Post by Ibadan Watch (@Ibadanwatch)
Oyedele Unveils Four-Year Roadmap to Build $1 Trillion Nigerian Economy by 2030.
The Coordinating Minister of the Economy and Minister of Finance, Taiwo Oyedele, has unveiled the Federal Government's four-year strategy to grow Nigeria into a $1 trillion economy by 2030, identifying expanded access to credit, technology, agro-processing, energy, manufacturing and financial services as the key drivers of the country's next phase of economic growth.
Speaking at the BusinessDay CEO Forum in Lagos, Oyedele said the government has developed a detailed implementation framework outlining priority sectors, timelines, responsible institutions and measurable targets required to achieve the ambitious economic objective.
According to him, while many analysts remain sceptical about the target, the Tinubu administration is confident it is both realistic and achievable.
"We have identified the growth sectors, the new economies and the actions required, including who will implement them, when they will be delivered and the value they will create. For example, expanding Nigeria's credit economy alone can unlock more than $100 billion in additional economic value," he said.
Oyedele noted that reforms introduced over the past two years—including exchange rate unification, fiscal restructuring, tax reforms and efforts to rebuild external reserves—are beginning to yield results. He said Nigeria recorded double-digit GDP growth in US dollar terms in 2025, inflation is easing, the foreign exchange market has become more stable, external reserves are improving and investor confidence is gradually returning.
He stressed, however, that macroeconomic stability must translate into real benefits for citizens through increased investment, productivity, job creation and higher incomes.
To achieve this, the government plans to deepen broadband infrastructure and digital exports, expand agro-processing, strengthen energy supply through gas and renewable investments, position Nigeria as a regional manufacturing hub and improve access to finance by expanding credit and deepening the capital market.
Oyedele also disclosed that the Corporate Affairs Commission (CAC) now records an average of 10,000 new business registrations daily, which he attributed largely to tax reforms that exempt many small businesses from taxation. He added that supporting these businesses with skills, affordable financing and management support would stimulate growth and shared prosperity.
Calling on the private sector to play a leading role, Oyedele described Nigeria's ongoing reforms as one of the country's biggest economic opportunities, stressing that achieving the $1 trillion economy target would require strong collaboration between government and businesses.
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