FG targets 10.3% GDP growth by 2030, Uzoka-Anite says

By Abubakar Yunusa

The Federal Government is targeting a 10.34 per cent economic growth rate by 2030 under its proposed National Development Plan (NDP) 2026–2030.

The Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, disclosed this at the 2026 International Credit Rating Webinar organised by DataPro Limited.

She said the plan was designed to diversify the economy, attract investment, create jobs and improve the welfare of Nigerians.

According to her, Nigeria’s real Gross Domestic Product growth is projected to rise from 4.68 per cent in 2026 to 10.34 per cent in 2030.

The minister said the economy was expected to record an average growth rate of 7.79 per cent throughout the five-year period.

“Under the NDP 2026–2030, real GDP growth is projected to increase from 4.68 per cent in 2026 to 10.34 per cent in 2030, averaging 7.79 per cent over the Plan period,” she said.

Uzoka-Anite said the government also planned to increase revenue mobilisation, improve debt sustainability and direct more public spending towards capital projects.

She said government revenue was projected to rise from 11.15 per cent of GDP in 2025 to 18.7 per cent by 2030.

Capital expenditure, she added, was expected to account for 57.43 per cent of total government expenditure by 2030, compared with 36.03 per cent in 2025.

On public debt, the minister said the plan projected a decline in the debt-to-GDP ratio from 36.07 per cent in 2025 to 18.83 per cent by 2030.

She also projected a reduction in the Federal Government’s debt-service-to-revenue ratio from 62.93 per cent to 21.01 per cent within the same period.

Uzoka-Anite said achieving the targets would require improvements in infrastructure, electricity supply, access to finance and regulatory efficiency.

She identified agriculture, manufacturing, refining, solid minerals, digital services, energy and logistics as key sectors capable of expanding exports and creating employment.

“The government cannot finance Nigeria’s development requirements alone. Its role is to create an enabling environment for private investment, strengthen domestic value chains and support productivity-enhancing sectors,” she said.

The minister said gross capital formation was expected to reach 40 per cent of GDP by 2030, with the private sector projected to account for about 72 per cent of cumulative investment.

She added that the Ministry of Budget and Economic Planning was establishing a national macroeconomic dashboard to monitor economic growth, inflation, revenue, debt, investment and employment.

However, she said the success of the development plan would depend on effective implementation, coordination with annual budgets and alignment with state development plans.

Earlier, the founder of DataPro Limited, Abimbola Adeseyoju, said African countries needed stronger institutions, fiscal discipline, transparent policies and improved access to economic data to attract investment.

He said deliberate policy implementation and stronger financial markets were essential to improving investor confidence and achieving sustainable economic growth.