President Bola Tinubu on Tuesday declared that his administration’s economic reforms have positioned Nigeria to achieve a $1 trillion economy by 2030, despite current hardships faced by citizens.
Speaking through APC National Chairman, Prof. Nentawe Yilwatda, at the second edition of the Asiwaju Scorecard Series and Policy Roundtable in Abuja, Tinubu said the reforms had laid a stronger foundation for stability, growth, and prosperity.
Since his inauguration on May 29, 2023, Tinubu has pursued bold reforms including fuel subsidy removal, foreign exchange market liberalisation, and aggressive revenue mobilisation measures that initially drew mixed reactions but are now yielding results.
Speaking through APC National Chairman, Prof. Nentawe Yilwatda, at the second edition of the Asiwaju Scorecard Series and Policy Roundtable in Abuja, Tinubu said the reforms had laid a stronger foundation for stability, growth, and prosperity.
Since his inauguration on May 29, 2023, Tinubu has pursued bold reforms including fuel subsidy removal, foreign exchange market liberalisation, and aggressive revenue mobilisation measures that initially drew mixed reactions but are now yielding results.
“Nigeria faced a difficult economic inheritance,” Tinubu noted, citing subsidy distortions, multiple exchange-rate windows, weak revenue mobilisation, and rising debt pressures. “The evidence increasingly shows that the foundation is strengthening.”
Key indicators highlighted include:
External reserves rising to $52.7 billion by August 2026.
Non-oil revenue growing from ₦13.63 trillion in 2023 to ₦16.4 trillion in the first half of 2026.
Trade surplus jumping from ₦44.8 billion in 2023 to ₦7.54 trillion in Q1 2026.
Real GDP growth of 4.43% in Q2 2026, with inflation easing to 15.4%.
Tinubu stressed that the $1 trillion target is not just a figure but a national mission to boost production, exports, investment, and job creation. He outlined ambitious infrastructure plans, including a five-port maritime and logistics corridor linking Lagos, Ondo, Ibom, Port Harcourt, and Calabar with modern rail and highways.
The President also emphasised energy as a critical driver, pointing to the Ajaokuta-Kaduna-Kano gas pipeline as key to powering industries and households. He highlighted investments in education, vocational training, and digital skills through NELFUND, alongside credit access initiatives like CREDICORP to empower entrepreneurs and workers.
“Every container through a Nigerian port, every agricultural export, every factory along a transport corridor is an opportunity,” Tinubu said. “This is how we build the foundation of a $1 trillion economy.”
He concluded that the next phase of the Renewed Hope Agenda will focus on translating growth into tangible benefits more jobs, affordable credit, reliable power, lower inflation, and stronger purchasing power for Nigerians.
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