The Federal Government has reaffirmed its commitment to achieving a $1 trillion Gross Domestic Product (GDP) by 2030, a target set by President Bola Tinubu as part of his long-term economic vision.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made the declaration during a courtesy visit by the European Union (EU) Parliamentary Committee on Foreign Affairs, led by Mr David McAllister, in Abuja.
Bagudu emphasised that the administration’s growth strategy hinges on robust private sector participation, which is expected to contribute 86 percent of the investment required to reach the GDP milestone.
“Our President has set a clear target for Nigeria to achieve a one trillion-dollar GDP by 2030,” Bagudu said. “This is ambitious, but achievable through partnerships such as ours with the European Union.”
He noted that the government is pursuing inclusive and environmentally responsible growth, aiming to create jobs, boost productivity, and protect natural resources.
Bagudu credited ongoing reforms under President Tinubu for placing Nigeria on a more sustainable economic path. He also thanked the EU for its continued support, particularly through the Global Gateway Project, which plans to invest €300 billion across Africa.
He acknowledged the role of Ambassador Gauthier Mignot in facilitating Nigeria’s participation in the 2025 Global Gateway Forum and securing a N320.5 billion (€190 million) credit line for Nigerian banks to support agricultural lending.
The minister said Nigeria’s priorities align with the EU’s goals of promoting a green, digital, and inclusive economy, while improving healthcare, education, and governance.
EU delegation leader David McAllister described Nigeria as the EU’s largest trade and investment partner in Africa and pledged deeper cooperation in clean energy, industrialisation, and economic diversification.
