Tinubu Says Reforms Put Nigeria on Track for $1tn Economy

President Bola Tinubu says his administration’s economic reforms have placed Nigeria on the path to achieving a $1 trillion economy by 2030.

Tinubu, represented by the National Chairman of the All Progressives Congress, Prof. Nentawe Yilwatda, spoke on Tuesday at the Asiwaju Scorecard Series and Policy Roundtable in Abuja.

He said the removal of fuel subsidy, foreign exchange reforms, increased revenue mobilisation and investment in infrastructure were necessary to stabilise the economy and support long-term growth.

The President pointed to recent economic indicators, including Nigeria’s 4.43 percent GDP growth in the second quarter of 2026, as evidence that the economy was recovering. The figure, released by the National Bureau of Statistics, was higher than the 3.89 percent recorded in the first quarter.

Tinubu also said Nigeria’s external reserves had risen to about $52.7 billion by August, while non-oil revenue and the country’s trade surplus had improved.

However, he acknowledged that macroeconomic gains had yet to fully translate into better living conditions for many Nigerians.

“The ultimate test is when stability translates into cheaper food, more jobs, affordable credit, reliable electricity and greater purchasing power,” he said.

Tinubu said the government’s $1 trillion economy target would be driven by investment in roads, railways, ports, energy, manufacturing, exports and digital infrastructure.

He highlighted plans for an integrated maritime and logistics network linking major ports in Lagos, Ondo, Akwa Ibom, Port Harcourt and Calabar, as well as investments in industrial hubs and the Ajaokuta-Kaduna-Kano gas pipeline.

The President also said programmes such as NELFUND, skills-development initiatives and CREDICORP would help expand access to education, training and credit.

He said the next phase of his administration’s economic agenda would focus on ensuring that growth translates into more jobs, lower inflation, affordable credit, reliable electricity and improved purchasing power for Nigerians.