The Federal Government has reiterated its confidence in achieving President Bola Tinubu’s ambitious goal of transforming Nigeria into a $1 trillion economy by 2030. The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this known during a courtesy visit by the European Union (EU) Parliamentary Committee on Foreign Affairs, led by Mr. David McAllister, in Abuja.
Bagudu explained that the government’s economic blueprint is built around strong collaboration with both local and international partners. According to him, about 86 percent of the investments required to reach the $1 trillion target will come from private sector initiatives. “Our President has set a clear target for Nigeria to achieve a one trillion-dollar GDP by 2030. This is ambitious, but achievable through partnerships such as ours with the European Union,” the minister said.
Highlighting the administration’s priorities, Bagudu said the Tinubu government aims to achieve double-digit growth in an environmentally sustainable manner. “We are pursuing growth that is both inclusive and responsible—one that creates jobs, strengthens productivity, and protects the environment,” he added. The minister credited ongoing reforms under President Tinubu for positioning Nigeria’s economy on a more sustainable and resilient path.
The Head of the EU Delegation to Nigeria, Ambassador Gauthier Mignot, was commended for facilitating Nigeria’s participation in the 2025 Global Gateway Forum and securing a €190 million (₦320.5 billion) credit line to support agricultural lending through Nigerian financial institutions. The EU’s Global Gateway Project, which plans to invest €300 billion across Africa, aligns with Nigeria’s vision for a green, digital, and inclusive economy, while enhancing healthcare, education, and governance.
EU delegation leader Mr. McAllister described Nigeria as the European Union’s largest trade and investment partner in Africa, emphasizing mutual benefits in clean energy, industrialization, and diversification beyond oil. The visit, he said, aims to strengthen economic collaboration and encourage investment in renewable energy and manufacturing. The meeting concluded with both parties reaffirming their commitment to expand economic cooperation, increase access to capital, and drive inclusive, sustainable growth.
source: The Nation