Nigeria requires a sustained 10% annual growth rate over the next 10 years to achieve its ambition of becoming a $1 trillion economy, Finance Minister of State Dr. Doris Uzoka-Anite declared on Monday.
Speaking at the National Economic Council (NEC) conference in Abuja on February 9–10, Dr. Uzoka-Anite highlighted the economy’s recent stabilization, including a 4% growth rebound in 2025. However, she stressed that while 6–7% growth could help reduce poverty, hitting the $1 trillion mark demands aggressive double-digit expansion powered by private sector investment and deep structural reforms.
The minister detailed the Federal Government’s new approach via the Domestic Growth Acceleration Strategy (DGAS), now embedded in the 2026–2030 National Development Plan. This strategy promotes “Investment Budgeting” to lower risks on key projects, potentially attracting private capital at three to five times the level of public spending.
“Our role must shift decisively from primary spender to enabler of investments that de-risk and unlock private capital,” Dr. Uzoka-Anite said. “The government alone cannot finance the transformation we seek. Strategic public de-risking can unlock private investment at a multiplier of 3 to 5 times public allocations in key infrastructure. For accelerated development at the desired scale, we need Investment Budgeting—a deliberate framework to mobilize private capital, build productive assets, and generate long-term economic returns.”
