FG mobilises state govts to drive $1trn economic target

The Federal Government, through the Federal Ministry of Budget and Economic Planning, has charged State Commissioners of Budget and Economic Planning to exceed federal-state boundaries and actively align their economic strategies to unlock a $1 trillion economy by 2030.

Doris Uzoka-Anite, Minister of state for Budget and Economic Planning gave the charge while delivering a keynote address during a two-day Retreat held in Abuja, for state Commissioners, State Permanent Secretaries and State Directors of Budget and Economic Planning.

According to her, the aim of the retreat was to intimate the stakeholders that Nigeria’s goal of achieving a $1 trillion economy was no longer a distant imaginary model for 2030, but one that requires immediate and concerted action to be taken to fully achieve it by the year 2030.

Uzoka-Anite reiterated that achieving this ambitious target requires a shift from passive implementation to active leadership. She encouraged them to examine their unique economic profile against the national targets to identify and exploit their specific advantages and also align local budgets, policies, and development plans with national priorities, saying this will ensure coherence and shared prosperity.

She therefore assured that the Renewed Hope Agenda provides the political will, while the incoming Medium-Term National Development Plan (2026–2030) serves as the strategic execution framework.

Uzoka-Anite in an earlier engagement emphasized that achieving the $1trillion economy will require the nation to maintain a sustained GDP growth rate of between 10 percent and 12 percent annually over the coming decade.

Reflecting on the administration’s journey since 2023, the Minister highlighted that Nigeria’s 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 .

She explained that ”Investors could not trust the signals our market was sending,” but “Today, those reforms are being vindicated. In January 2026, Dr Doris disclosed that S&P Global Ratings revised Nigeria’s outlook to positive, affirming a high level of confidence in our fiscal, economic and monetary trajectories.”

She added that the government is currently transitioning into a second wave 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.
Key pillars of the DGAS include: industrialization- moving away from exporting raw materials (which currently account for 70 percent of inputs) to domestic processing, modeled after the success of the Dangote Refinery: infrastructure – expanding broadband, data centers, and the Nationwide Energy Expansion Program (solar, hydro, and gas).
Human Capital: A pipeline targeting technical training for 3 million young Nigerians annually and consumer Credit- launching a platform to make financing for housing, education, and healthcare accessible to ordinary citizens.”

In her remarks, Deborah Odoh, Permanent Secretary of the Ministry, said that the retreat provides an opportunity and experiences that will further strengthen collaboration between the federal and state governments and also an avenue to identify practical ways of improving our processes

She continued that the success of the National Economic Council depends not only on sound policies but also on the dedication, professionalism and collaboration of all stakeholders. She therefore encouraged them to participate actively, engage openly and contribute constructively to the discussions over the course of the retreat.

In his remarks, Sonny Akporokiamo Ekedayen, newly elected Community of Practise Chairman, charged his colleagues to hit the ground running, especially at this very crucial time of our nation’s development. He therefore pledged on behalf of his fellow commissioners to work for the advancement of the good of the country.