The Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, has emphasised the importance of strong policy coordination and strategic planning in achieving the Federal Government’s ambitious economic goals.

Receiving the new Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, on assumption of duty, Bagudu said the target of growing Nigeria’s economy to $1 trillion by 2030 would be pursued vigorously.

He said the President Bola Tinubu administration plans to achieve this objective by growing the economy at 7 per cent annually, explaining that the upcoming National Development Plan, 2026–2030, will guide economic reforms, investment priorities, and development initiatives across the country. 

Bagudu welcomed Uzoka-Anite’s appointment. He briefed  her that, as the official planning authority of the country, the Federal Ministry of Budget and Economic Planning is responsible for preparing and coordinating national development plans, harmonising fiscal and economic policies, providing policy advice to the President, and coordinating development initiatives across the federal, state, and local levels.

The minister recalled recent discussions of the National Economic Council, which identified several key policy priorities aimed at accelerating national development, including improved coordination among federal, state, and local governments, especially, since state governments account for about 48% of public expenditure. 

He stated that the ministry continues to coordinate international development partnerships to support Nigeria’s economic growth, explaining that one recent milestone is the upgrade of bilateral relations between Nigeria and China to a comprehensive strategic partnership, which has led to several cooperation agreements focused on economic development.

Uzoka-Anite noted that for Nigeria to attain the desired level of growth, 95% of the economic development must be driven by the private sector, with the federal government contributing 5%. 

She also advised that the Renewed Hope programme should be led by the private sector to achieve its objectives.