The newly appointed Minister of State for Budget and Economic Planning has assumed office, outlining an ambitious target of growing Nigeria’s economy to $1 trillion by 2030, while signalling a stronger role for the private sector in driving national development.
On his first day at the Federal Ministry of Budget and Economic Planning, the Minister of State was received by the Minister, Abubakar Atiku Bagudu, marking the formal commencement of his duties.
Speaking during his assumption of office, the Minister described the administration’s economic goal as “ambitious but clear,” stating that achieving a $1 trillion economy would require coordinated efforts across both public and private sectors.
He stressed that the government would focus on providing policy direction and stability, while the private sector would play a leading role in economic expansion.
“The Renewed Hope Agenda must be led by the private sector,” he said. “While the government provides the 5 per cent strategic framework and policy stability, it is the 95 per cent, the innovators, entrepreneurs, and industry leaders who will drive our national growth.”
The Minister added that reforms to the national budgeting process and the development of the 2026–2030 National Development Plan would be prioritised to support investment, infrastructure development and security.
“I am committed to ensuring that our national budgeting process and the 2026–2030 National Development Plan serve as powerful catalysts for investment, security, and infrastructure,” he said.
He also thanked President Bola Ahmed Tinubu for the appointment, pledging to advance the administration’s economic agenda.
The statement underscores the government’s continued emphasis on private sector-led growth as a key pillar of its economic strategy
