President Bola Ahmed Tinubu has disclosed that Nigeria’s private sector is expected to provide approximately 86 per cent of the investment required to achieve the Federal Government’s target of building a $1 trillion economy by 2030.
The President made this known in an address delivered on his behalf by the Speaker of the House of Representatives, Tajudeen Abbas, during the public presentation of a book titled Economic Diversification and Structural Transformation in Nigeria: Past, Present and Future, authored by lawmaker Abdulmumin Jibrin Kofa in Abuja.
Tinubu explained that the government cannot achieve the ambitious economic target through public spending alone, stressing that private businesses and investors must play a leading role through investment, innovation, manufacturing and exports.
According to him, the government’s responsibility is to create an enabling environment that will encourage businesses to expand, attract investment and increase economic productivity.
He also highlighted the administration’s efforts to introduce a framework for reducing investment risks, harmonise the tax system and eliminate multiple taxation to make Nigeria more attractive to investors.
The President further stated that non-oil activities now account for approximately 96 per cent of Nigeria’s Gross Domestic Product, while non-oil exports have exceeded $6 billion.
He added that Nigeria’s external reserves had risen to about $55 billion, while non-oil revenue increased from ₦13.63 trillion in 2023 to ₦16.4 trillion in the first half of 2026.
Tinubu maintained that the country’s economic transformation must go beyond improved statistics and translate into better living conditions, job opportunities, reliable electricity and increased prosperity for Nigerians.
The administration’s $1 trillion economic ambition is outlined in the Medium-Term National Development Plan for 2026–2030.
ALSO READ:NGX Market Hits Record High as Investors Push Valuation to N164.97 Trillion
Hope you find the Above publication useful, Calabargist will love to keep you updated via our newsletter by subscribing with your email.
