Oritsegbubemi Omatseyin
Lagos — The Federal Government has outlined a rigorous roadmap to transition Nigeria into a $1 trillion economy, asserting that the target is a “specific, measurable decision” rather than a mere political slogan.
Speaking at the 2026 Financial Correspondents Association of Nigeria, FICAN, Annual General Meeting, with the theme “Actualizing President Bola Ahmed Tinubu’s $1 Trillion Economy Agenda” held in Abuja, the Minister of State for Finance, Dr Doris Uzoka-Anite, revealed that achieving this milestone will require the nation to maintain a sustained GDP growth rate of between 10% and 12% annually over the coming decade.
The Minister, who was represented by Amadi Uloma, Assistant Director of Information and Public Relations, noted that while the current GDP stands at approximately $375 billion, the administration is committed to the ambitious targets that move nations.
The first wave according to the Minister is Restoring Market Integrity. Reflecting on the administration’s journey since 2023, the Minister highlighted that Nigeria’s economic fundamentals were structurally distorted, some also considered it politically survivable, but necessary decisions of President Bola Ahmed Tinubu to remove the fuel subsidy which she said previously consumed over $5 trillion annually and the unification of the foreign exchange market .
She explained: “Investors could not trust the signals our market was sending, but Today, those reforms are being vindicated. In January 2026, Dr. Doris, disclosed that S&P Global Ratings revised Nigeria’s outlook to positive, affirming a high level of confidence in our fiscal, economic and monetary trajectories.”
Regarding the second wave: DGAS Framework, the Minister disclosed that
the government is currently transitioning into a “second wave” of reform known as the Disinflation and Growth Acceleration Strategy, DGAS. This nine-pillar framework is designed to move Nigeria away from a consumption-based economy toward productive capacity.
Key pillars of the DGAS include Industrialization: Moving away from exporting raw materials (which currently account for 70% of inputs) to domestic processing, modeled after the success of the Dangote Refinery.
Infrastructure: Expanding broadband, data centers, and the Nationwide Energy Expansion Program (solar, hydro, and gas).
Human Capital: A pipeline targeting technical training for 3 million young Nigerians annually.
Consumer Credit: Launching a platform to make financing for housing, education, and healthcare accessible to ordinary citizens.
Speaking on global re-entry and compliance, the Minister noted significant progress in international financial standing, highlighting Nigeria’s recent exit from the Financial Action Task Force, FATF, grey list.
”This matters because it directly reduces compliance costs for foreign investors,” the Minister explained adding that Capital flows more freely to countries that international regulators trust.
She concluded with a commitment to transparency, noting that the Ministry of Finance now treats investment expenditure as a distinct pillar of public finance to ensure every naira spent builds long-term value for the Nigerian people.
“President Tinubu’s $1 trillion economy agenda will not be built through government action alone. It will be built through the confidence of investors who trust our institutions, the productivity of entrepreneurs who can access capital and markets, the skills of young Nigerians who find opportunity rather than frustration, and the informed engagement of citizens who understand what their country is trying to do and why,” she said.
Earlier, the FICAN Chairman, Mr Bassey Udo, speaking during his welcome remarks, emphasized the need for bold reforms asserting that “reforms is a foundation to Nigeria’s economic transformation”.
He added that to achieve Nigeria’s economic ambitions, particularly in becoming a $1 trillion economy requires bold reforms.
Mr Udo further called on key players from the financial sectors of the economy to ensure that macroeconomic variables are strengthened.
The meeting was attended by partners and key stakeholders of the Ministry of Finance.
