FG Approves 2026–2030 National Development Plan to Drive Growth, Reforms, and Job Creation

The Federal Government has approved a new Medium-Term National Development Plan (MTNDP) 2026–2030, aimed at consolidating ongoing reforms and accelerating Nigeria’s economic growth. The Minister of Budget and Economic Planning, Atiku Bagudu, announced this after the National Economic Council (NEC) meeting chaired by Vice President Kashim Shettima at the State House in Abuja. The plan, expected to be launched in December 2025, will serve as a successor to the 2021–2025 medium-term plan, which expires at the end of this year.

Bagudu explained that the outgoing 2021–2025 plan, which was largely a post-COVID recovery strategy, failed to achieve its target of 7% GDP growth due to delayed economic reforms. He noted that critical policies, including subsidy removal, foreign exchange liberalization, and tax reforms, were postponed until President Bola Tinubu assumed office in 2023. According to him, this lack of strong political will in previous years hindered Nigeria from meeting its development targets.

However, the minister expressed optimism that the 2026–2030 plan will record higher success, citing increased revenues for states and local governments and reduced domestic borrowing as positive indicators. He stressed that the renewed plan would provide a roadmap for all three tiers of government and the private sector, ensuring alignment with Nigeria’s long-term Agenda 2050 development framework.

The plan will focus on job creation, human capital development, sustainable infrastructure, food security, and social protection systems, Bagudu revealed. He described it as a “renewed HOPE plan” designed to bridge current reform momentum with Nigeria’s long-term aspirations. The government expects the reforms already in place to position the economy for stronger growth in the next five years.

Preparation for the new plan will commence immediately to meet the December 2025 launch timeline. Bagudu emphasized that the process will be participatory, involving federal, state, and local governments, the private sector, political parties, civil society, labor unions, youth, students, traditional rulers, and other stakeholders. He added that three governance structures—a National Steering Committee, a Central Working Group, and multiple Technical Working Groups—will oversee the plan’s design and implementation, with governors representing Nigeria’s six geopolitical zones.

Source: Business day