FG targets 12% annual growth to achieve $1trn economy target – Uzoka-Anite
Naija News • 4d ago
**A New Dawn for Nigeria's Economy: Achieving the $1 Trillion Target**
As Nigeria continues to navigate the complexities of its economic journey, the Federal Government has reaffirmed its commitment to achieving the ambitious target of a $1 trillion economy in the next decade. This goal, announced by President Bola Ahmed Tinubu's administration, requires sustained growth of 10% to 12% annually, a feat that experts say is achievable but demanding.
Speaking at the 2025 Financial Correspondents Association of Nigeria (FICAN) Annual General Meeting, Minister of State for Finance, Doris Uzoka-Anite, emphasized that this target is no longer a mere slogan but a specific, measurable objective. Nigeria's current GDP stands at approximately $375 billion, and the government is determined to bridge the gap to reach the trillion-dollar mark.
The administration's journey since 2023 has been marked by tough decisions, including the removal of the fuel subsidy, which had consumed over $5 trillion annually. These reforms have begun to yield positive results, with S&P Global revising Nigeria's outlook to positive in January 2026, affirming a high level of confidence in the country's fiscal and monetary trajectories.
However, achieving the $1 trillion economy target will require more than just government action. Investors, entrepreneurs, and citizens must all play their parts. President Tinubu's vision can only be realized through the confidence of investors who trust Nigeria's institutions, the productivity of entrepreneurs who can access capital and markets, and the skills of young Nigerians who find opportunity rather than frustration.
The non-oil sector is crucial to the realization of this economic agenda. The Managing Director of Nigerian Export Import Bank (NEXIM) emphasized that diversification is key, and Nigeria cannot rely solely on oil exports to reach a trillion-dollar GDP. The bank sees this as a call to arms, urging the unlocking of untapped potential in Nigeria's non-oil sectors.
As Nigeria embarks on this ambitious journey, the government's commitment to transparency, accountability, and economic reform is under scrutiny. The success of this endeavor will depend on the collective efforts of all stakeholders, including investors, entrepreneurs, and citizens. Can Nigeria achieve the $1 trillion economy target? Only time will tell, but the administration's determination and the nation's resilience suggest that anything is possible.