{"id":3308,"date":"2026-03-03T00:37:56","date_gmt":"2026-03-03T00:37:56","guid":{"rendered":"https:\/\/finance.gov.ng\/?p=3308"},"modified":"2026-03-03T00:37:56","modified_gmt":"2026-03-03T00:37:56","slug":"fg-targets-12-annual-growth-to-hit-1-trillion-economy-landmark-uzoka-anite","status":"publish","type":"post","link":"https:\/\/finance.gov.ng\/ministry\/fg-targets-12-annual-growth-to-hit-1-trillion-economy-landmark-uzoka-anite\/","title":{"rendered":"FG Targets 12% Annual Growth To Hit $1 Trillion Economy Landmark \u2013 Uzoka-Anite"},"content":{"rendered":"

The Federal Government has outlined a rigorous roadmap to transition Nigeria into a $1 trillion economy, asserting that the target is a \u201cspecific, measurable decision\u201d rather than a mere political slogan.<\/p>\n

\u200bSpeaking at the 2026 Financial Correspondents Association of Nigeria (FICAN) Annual General Meeting, with the theme \u201cActualizing President Bola Ahmed Tinubu’s $1 Trillion Economy Agenda\u201d held today in Abuja, the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite, revealed that achieving this milestone will require the nation to maintain a sustained GDP growth rate of between 10% and 12% annually over the coming decade.<\/p>\n

\u200bThe Minister, who was represented by Amadi Uloma, Assistant Director of Information and Public Relations, noted that while the current GDP stands at approximately $375 billion, the administration is committed to the \u201cambitious targets that move nations.\u201d
\n\u200bThe first wave according to the Minister is Restoring Market Integrity:
\n\u200bReflecting on the administration\u2019s journey since 2023, the Minister highlighted that Nigeria\u2019s economic fundamentals were structurally distorted, some also considered it politically survivable, but necessary decisions of President Bola Ahmed Tinubu to remove the fuel subsidy which she said previously consumed over $5 trillion annually and the unification of the foreign exchange market .<\/p>\n

\u200bShe explained that \u201dInvestors could not trust the signals our market was sending,\u201d but, \u201cToday, those reforms are being vindicated. In January 2026, Dr. Doris, disclosed that S&P Global Ratings revised Nigeria\u2019s outlook to positive, affirming a high level of confidence in our fiscal, economic and monetary trajectories.\u201d
\n\u200bThe \u201cSecond Wave\u201d: DGAS Framework: the Minister disclosed that
\n\u200bthe government is currently transitioning into a \u201csecond wave\u201d of reform known as the Disinflation and Growth Acceleration Strategy (DGAS). This nine-pillar framework is designed to move Nigeria away from a consumption-based economy toward productive capacity.
\n\u200bKey pillars of the DGAS include:
\n\u200bIndustrialization: Moving away from exporting raw materials (which currently account for 70% of inputs) to domestic processing, modeled after the success of the Dangote Refinery.
\n\u200bInfrastructure: Expanding broadband, data centers, and the Nationwide Energy Expansion Program (solar, hydro, and gas).
\n\u200bHuman Capital: A pipeline targeting technical training for 3 million young Nigerians annually.
\n\u200bConsumer Credit: Launching a platform to make financing for housing, education, and healthcare accessible to ordinary citizens.
\n\u200b
\nGlobal Re-entry and Compliance
\n\u200bThe Minister noted significant progress in international financial standing, highlighting Nigeria\u2019s recent exit from the Financial Action Task Force (FATF) grey list.
\n\u200b\u201dThis matters because it directly reduces compliance costs for foreign investors,\u201d the Minister explained. Adding that \u201cCapital flows more freely to countries that international regulators trust.\u201d
\n\u200b
\nShe concluded with a commitment to transparency, noting that the Ministry of Finance now treats investment expenditure as a distinct pillar of public finance to ensure every naira spent builds long-term value for the Nigerian people, informing that \u201cPresident Tinubu’s $1 trillion economy agenda will not be built through government action alone\u201d. \u201cIt will be built through the confidence of investors who trust our institutions, the productivity of entrepreneurs who can access capital and markets, the skills of young Nigerians who find opportunity rather than frustration, and the informed engagement of citizens who understand what their country is trying to do and why\u201d.<\/p>\n

Earlier, the FICAN Chairman, Mr Bassy Udo, speaking during his welcome remarks, emphasized the need for bold reforms asserting that \u201creforms is a foundation to Nigeria\u2019s economic transformation\u201d.
\nHe added that to achieve Nigeria\u2019s economic ambitions, particularly in becoming a $1 trillion economy requires bold reforms.
\nMr Udo further called on key players from the financial sectors of the economy to ensure that macroeconomic variable are strengthened.<\/p>\n

The Meeting was attended by partners and key stakeholders of the Ministry of Finance.<\/p>\n

\n

Signed
\nAmadi Uloma Nneka
\nAssistant Director, Information and PR
\nFebruary 25, 2026
\nwww.finance.gov.ng<\/p>\n