The Federal Government says achieving a one trillion dollar economy will depend largely on the private sector.
This was made known as the Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, assumed duties at the ministry, aligning with the broader economic direction of the administration.
Speaking at the event, the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, emphasised that about 95% of the growth required to reach the target will come from the private sector, with government focusing on policy stability and an enabling environment.
“A one trillion dollar economy is achievable if the private sector is empowered and reforms are sustained.”
Bagudu noted that ongoing economic reforms are designed to boost investor confidence, drive productivity and support long-term growth.
On her part, Dr. Uzoka-Anite assured that the ministry will strengthen coordination of national development plans, align fiscal strategies and deepen collaboration across all tiers of government.
“We will continue to provide the policy framework and partnerships required to support private sector-led growth.”
She added that investments in infrastructure, security and key sectors will be critical to unlocking Nigeria’s economic potential.
Nigeria’s economy is currently valued at about $375 billion, with the government targeting significant expansion through reforms, diversification and increased productivity.
With both ministers aligned on strategy, the focus now shifts to implementation and the pace at which the private sector can drive inclusive economic growth. For millions of Nigerians however, the promise of a stronger economy is tied to jobs, thriving businesses and improved living standards.
(Editor: Terverr Tyav)
