Nigeria’s $1 Trillion Economy Goal: Oyedele and Uzoka-Anite Commit to Fiscal Discipline and Private Sector Growth
Newly sworn-in ministers of state, Finance, Taiwo Oyedele, and Budget & Economic Planning, Doris Uzoka-Anite, have outlined ambitious plans to strengthen Nigeria’s public finances and drive the country toward a $1 trillion economy. They emphasized fiscal discipline, boosting revenue, and encouraging private-sector investment as central to achieving sustainable economic transformation.
In his first statement, Oyedele committed to enhancing revenue mobilisation, promoting fiscal discipline, and ensuring public resources benefit citizens directly. Describing his appointment as a call to national service, he promised collaboration with Finance Minister Wale Edun, the National Assembly, the private sector, and development partners to advance sustainable development while maintaining integrity and dedication in public office.
At the Ministry of Budget and Economic Planning, Uzoka-Anite emphasized that the private sector must drive 95% of Nigeria’s economic growth, leaving only 5% to government initiatives. She praised President Bola Ahmed Tinubu’s foundational economic reforms and expressed confidence that they would pave the way for Nigeria to reach the $1 trillion economy target. Her message underscores the Renewed Hope agenda’s focus on private investment as the key driver of national development.
Minister Abubakar Atiku Bagudu elaborated on the ministry’s mandate to coordinate national development plans, harmonize fiscal policies, and foster cooperation among federal, state, and local governments. With states managing 48% of public spending, priorities include enhanced security, infrastructure development, and anti-theft measures in oil and mining. Bagudu also highlighted strengthening global partnerships, such as Nigeria-China strategic ties, as vital for economic growth.
Both appointments signal the Tinubu administration’s commitment to budget efficiency, revenue diversification, and macroeconomic stability. With the upcoming National Development Plan (2026–2030) serving as a roadmap, Oyedele and Uzoka-Anite are set to drive reforms and investments that align with Nigeria’s ambitious $1 trillion economy goal, ensuring inclusive growth and stronger public-private collaboration.
source: Leadership