FG projects $1trn economy by 2030

The Federal Government has reaffirmed confidence that Nigeria will achieve President Bola Tinubu’s $1 trillion Gross Domestic Product (GDP) target by 2030.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, stated this in Abuja during a courtesy visit by the European Union (EU) Parliamentary Committee on Foreign Affairs, led by Mr. David McAllister.

Bagudu said the administration’s economic strategy prioritizes private sector-driven growth, noting that about 86 percent of the required investments will come from private enterprises.

“Our President has set a clear target for Nigeria to achieve a one trillion-dollar GDP by 2030.

“This is ambitious but achievable through partnerships such as ours with the European Union,” he said.

He added that the government’s focus is on inclusive and sustainable growth that creates jobs, boosts productivity, and protects the environment.

The minister attributed Nigeria’s economic progress to ongoing reforms initiated by President Tinubu and commended the EU for its continued partnership.

Bagudu also thanked the EU Delegation to Nigeria, led by Ambassador Gauthier Mignot, for facilitating Nigeria’s participation in the 2025 Global Gateway Forum and securing a ₦320.5 billion (€190 million) credit line for agricultural financing.

He said the EU’s €300 billion Global Gateway Project aligns with Nigeria’s priorities in green growth, digital innovation, education, healthcare, and governance.

On his part, McAllister described Nigeria as the EU’s largest trade and investment partner in Africa, pledging to deepen collaboration in clean energy, manufacturing, and economic diversification.

“We seek to encourage investment in clean energy, strengthen Nigeria’s industrial base, and broaden cooperation beyond oil exports,” McAllister said.