NEC endorses roadmap to build $1 trillion Nigerian economy by 2030

By Kunle Sanni –

The National Economic Council (NEC) has approved a comprehensive roadmap aimed at transforming Nigeria into a $1 trillion economy by 2030. The decision was reached during the Council’s 153rd meeting held yesterday at the Presidential Villa in Abuja.

The meeting—the sixth of 2025—was presided over by Vice President Kashim Shettima and attended by President Bola Tinubu, Senate President Godswill Akpabio, Senate Leader Opeyemi Bamidele, Deputy Speaker of the House of Representatives Benjamin Kalu, Secretary to the Government of the Federation (SGF) George Akume, and several state governors.

As part of its resolutions, the NEC also approved the expansion of its ad hoc Committee on Crude Oil Theft Prevention and Control to include oversight of the solid minerals sector. The move comes amid rising concerns about illegal mining activities and the resulting loss of national revenue.

Presenting a policy memo to the Council, Minister of Budget and Economic Planning, Senator Abubakar Bagudu, outlined key strategies designed to strengthen cooperation among federal, state, and local governments while consolidating ongoing reforms that promote macroeconomic stability, security, and inclusive development.

Bagudu noted that the roadmap draws from constitutional principles that define the shared responsibilities of all tiers of government in driving national growth. He added that current reforms—including macroeconomic adjustments, enhanced security measures, the Renewed Hope Infrastructure Fund, and grassroots development initiatives—have created a solid foundation for accelerated economic expansion.

The Council approved six major resolutions proposed by Bagudu, including regular updates on economic stability efforts, sustained infrastructure collaboration across all levels of government, and increased funding to enhance national security.