By Abiodun Folarin
WorldStage– Nigeria’s drive in achieving a $ 1 trillion economy by 2030 has received a renewed policy backing, as the Minister of Budget and Economic Planning, Senator Abubakar Bagudu reaffirmed the Federal Government’s commitment to the ambitious target, while welcoming Dr. Doris Uzoka-Anite as the new Minister of State for the ministry.
Bagudu said strong policy coordination, disciplined planning, and sustained reforms under the administration of Bola Ahmed Tinubu would be critical to delivering the government’s strategy to expand the size of the economy, noting that the upcoming National Development Plan (2026–2030) will provide the framework for driving investments, reforms, and growth initiatives required to achieve the target.
Receiving the new Minister, on her assumption of duty on Monday, he said the target of growing Nigeria’s economy to $1 trillion by 2030 would be pursued vigorously.
Bagudu welcomed Uzoka-Anite’s appointment and told her that, as the official planning authority of the country, the Federal Ministry of Budget and Economic Planning is responsible for preparing and coordinating national development plans, harmonising fiscal and economic policies, providing policy advice to the President, and coordinating development initiatives across the federal, state, and local levels.
The minister recalled recent discussions of the National Economic Council, which identified several key policy priorities aimed at accelerating national development, including improved coordination among federal, state, and local governments, especially since state governments account for about 48% of public expenditure.
Other priorities, he said, involved increasing investment in security, securing ongoing funding for transformative infrastructure, and strengthening enforcement against illegal activities in the extractive sector, particularly crude oil theft and illegal mining.
He stated that the ministry continues to coordinate international development partnerships to support Nigeria’s economic growth, explaining that one recent milestone is the upgrade of bilateral relations between Nigeria and China to a comprehensive strategic partnership, which has led to several cooperation agreements focused on economic development.
In her response, Uzoka-Anite noted that for Nigeria to attain the desired level of growth, 95% of the economic development must be driven by the private sector, with the federal government contributing 5%.
She also advised that the Renewed Hope programme should be led by the private sector to achieve its objectives.
According to her, “I have no doubt that Mr President can achieve the one trillion dollar economy as he has started by laying the foundation for that to happen through the introduction of economic reforms and the implementation of the National Development Plan (NDP).”
She thanked President Bola Ahmed Tinubu for the chance to serve in his administration in various roles: first as Minister of Industry, Trade and Investment, then as Minister of State for Finance, and now as Minister of State for Budget and Economic Planning, alongside serving on other economic committees.
Permanent Secretary of the Ministry of Budget and Economic Planning, Dr Deborah Odoh, remarked that the minister of state’s assumption of office at this significant time is most welcome.
She said, “We are confident that your distinguished experience in public service, finance, and economic management will further strengthen the work of the Ministry as we continue to advance the Government’s economic reform agenda and improve the quality of national planning and budgeting.”
She hoped that her insights, guidance, and engagement would add value to the work of the ministry and its agencies, noting that her presence would undoubtedly help strengthen the collective capacity of the leadership team as the management continues to deliver on the Ministry’s mandate in support of Mr President’s Renewed Hope Agenda.
