Nigeria aims for $1 trillion economy by 2030

The All Progressives Congress (APC) has unveiled a strategic plan for the administration of President Bola Tinubu to build a $1 trillion Nigerian economy by 2030. Representing the President at a policy roundtable in Abuja, APC National Chairman Professor Nentawe Yilwatda identified infrastructure, human capital, and increased production as the pillars of this strategy.

Yilwatda noted that the administration inherited an economy burdened by fuel subsidy distortions, foreign exchange shortages, and weak revenue mobilization. He highlighted recent economic indicators, including external reserves reaching approximately $52.7 billion by August 2026, GDP growth of 4.43 percent, and a decline in inflation to roughly 15.4 percent. The $1 trillion target aims to drive exports, investment, and employment, with plans to transform Nigeria into a maritime and logistics hub for West and Central Africa through an integrated network of ports, railways, and roads.

Addressing concerns regarding the cost of living, Yilwatda stated that the next phase of the ‘Renewed Hope’ agenda will focus on transitioning from macroeconomic stability to microeconomic prosperity. He emphasized that the goal is to ensure economic growth translates into tangible benefits for citizens, such as increased food security, stronger purchasing power, job creation, and affordable credit.