FG eyes $1trn economy by 2030 as Uzoka-Anite resumes at Budget Ministry

The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has reaffirmed the Federal Government’s commitment to growing Nigeria’s economy to $1 trillion by 2030, emphasising the need for strong policy coordination and strategic planning.

Bagudu made the remarks on Monday while receiving the new Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, who officially resumed duty at the ministry. He said the administration of President Bola Tinubu plans to achieve this target through an annual economic growth rate of seven per cent, guided by the upcoming National Development Plan (2026–2030).

Welcoming Uzoka-Anite, Bagudu highlighted the ministry’s responsibilities as Nigeria’s official planning authority, including preparing and coordinating national development plans, harmonising fiscal and economic policies, advising the President, and coordinating development initiatives across federal, state, and local levels.

He recalled discussions at the National Economic Council identifying key priorities to accelerate national development, such as improving coordination among all tiers of government—state governments account for nearly 48 per cent of public expenditure—investing in security, ensuring funding for transformative infrastructure, and tackling illegal activities in the extractive sector, including crude oil theft and illegal mining.

Bagudu also noted the ministry’s role in fostering international development partnerships, citing the recent upgrade of Nigeria–China relations to a comprehensive strategic partnership, which has led to several cooperation agreements focused on economic growth.

In her response, Uzoka-Anite emphasised the central role of the private sector in driving Nigeria’s growth, noting that 95 per cent of economic development should be private-sector led, with the federal government contributing the remaining five per cent.

“I have no doubt that Mr President can achieve the one trillion dollar economy as he has started by laying the foundation for that to happen through the introduction of economic reforms and the implementation of the National Development Plan (NDP),” Uzoka-Anite said, adding that the Renewed Hope Agenda must also be driven by private-sector engagement.

Permanent Secretary Dr Deborah Odoh welcomed Uzoka-Anite’s assumption of office, noting that her extensive experience in public service, finance, and economic management will strengthen the ministry’s work in advancing the government’s economic reform agenda and improving national planning and budgeting.