How Tinubu’s reforms aim to deliver $1trn economy by 2030 — Presidency

The Presidency has said President Bola Tinubu set an ambitious target to grow Nigeria’s economy to $1 trillion by 2030 from his first day in office, insisting the country is now on a steady path to recovery despite the pains of ongoing reforms.

Technical Adviser to the President on Economic and Financial Inclusion in the Office of the Vice President, Dr. Nurudeen Zauro, disclosed this at a media parley in Abuja over the weekend.

According to him, the administration’s strategy focuses on strengthening the economic and financial sectors, expanding inclusion and building trust and infrastructure to drive long-term growth.

“From day one, Mr President set a target of deepening Nigeria’s economic and financial sector to achieve a $1 trillion economy by 2030,” Zauro said. “To achieve that, we must build trust, infrastructure, ensure inclusion and introduce policies that promote partnership and collaboration.”

He admitted that recent reforms have been tough on citizens but described them as necessary measures to stabilise the economy.

Using a medical analogy, Zauro said the reforms were like surgery required to restore a sick patient to health, adding that Nigeria is currently on a “healing journey.”

He noted that key economic indicators are beginning to improve, with investor confidence gradually returning.

“Things are getting better. The numbers are turning and investors are coming back. Nigeria is on its trajectory to success,” he said.

Zauro added that the administration is positioning the country to take advantage of the African Continental Free Trade Area, while both the President and Vice President continue to seek global partnerships and investment.

He also linked the government’s economic drive to a strong push for financial inclusion, citing the implementation of the ASO Accord on Economic and Financial Inclusion aimed at expanding access to financial services.

To ensure nationwide participation, he said the inclusion agenda has been elevated to the National Economic Council to secure the involvement of state governments.

“It is not enough to make policy at the centre; it must reach the sub-nationals so every Nigerian benefits. Our goal is that no one is left behind,” he said.

Meanwhile, Nigeria will host the 2026 RegTech Africa Conference and Expo, scheduled for May 20 to 22 under the patronage of the Vice President’s Office. The event, themed “Building trust, infrastructure, inclusion and policy for a borderless economy,” will bring together policymakers, innovators and regulators to address challenges in financial services and economic participation.

Organisers said improving access to markets and payment systems, especially in rural areas, could significantly boost productivity and economic growth across the country.