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Nigeria Plots Shift From Economic Stabilisation To Expansion As Government Targets $1tn Economy

Nigeria’s federal government has unveiled a sweeping economic reform and investment mobilisation strategy aimed at accelerating growth, creating jobs and setting the country on a path towards a $1tn economy.

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In a statement issued on Saturday, the minister of state for finance, Doris Uzoka-Anite, said the 2026 Growth Acceleration and Investment Mobilisation Strategy would be coordinated by the federal ministry of finance and anchored on macroeconomic stability, rising private capital inflows and foreign direct investment.

Building on reforms introduced over the past two years – including exchange rate unification, restructuring of the energy market and fiscal consolidation – the Tinubu administration, she said, now intends to move decisively from economic stabilisation to expansion in 2026.

The reforms, Uzoka-Anite argued, are designed to “lower risk, unlock private capital, and ensure that Nigeria delivers sustainable returns for investors while expanding opportunity for our citizens”.

At the heart of the strategy is an ambition to scale output, deepen domestic value creation and place the economy on what the government describes as a credible path towards a $1tn gross domestic product by 2036, in line with its Nigeria First policy.

“The strategy is anchored on macroeconomic predictability, clear sectoral investment pathways and disciplined policy execution,” Uzoka-Anite said, adding that these elements are critical to restoring investor confidence after years of volatility.

A central plank of the plan is closer coordination between fiscal and monetary authorities, with the ministry of finance expected to work more closely with the Central Bank of Nigeria to support disinflation, exchange rate stability and orderly credit conditions.

“A stable and transparent economic environment where inflation, exchange rates and fiscal policies are predictable is essential to reducing uncertainty for investors and businesses,” the minister said. “Our objective is to lower inflation expectations, compress sovereign risk premiums and reduce the cost of capital for both public and private investment.”

The government has identified a wide range of priority sectors to drive growth, including energy and gas-based industrialisation, agribusiness, manufacturing, housing, healthcare, digital services, creative industries, logistics and solid minerals. Regulatory bottlenecks and price controls, Uzoka-Anite said, would be dismantled to unlock private capital across these sectors.

To boost capital formation, the administration plans to deepen capital and insurance markets, expand long-term local-currency instruments and encourage stronger participation by pension funds and institutional investors. Nigeria, she said, would pursue a sector-driven growth model combining export expansion with rising domestic demand.

“Capital formation is central to Nigeria’s growth acceleration strategy and its ability to achieve the desired GDP growth in 2026,” she said.

The strategy also places strong emphasis on financial inclusion, with plans to expand consumer credit and access to finance for households, microenterprises, women- and youth-led businesses and underserved communities. Development finance institutions such as the Bank of Industry and the Nigerian Export-Import Bank are expected to play a pivotal role in de-risking priority sectors and mobilising long-term capital.

“DFIs are essential partners in de-risking priority sectors, anchoring investor confidence and mobilising large volumes of private capital at scale,” Uzoka-Anite said. “Deepening access to affordable credit will translate macroeconomic reforms into tangible welfare gains for Nigerians.”

On the revenue side, the government plans to strengthen non-oil revenue mobilisation through improved compliance and digital systems. From 1 January 2026, all federal payments will require mandatory electronic receipts, with a new revenue optimisation platform rolled out to improve transparency and efficiency.

“For all federal services and products, only electronic receipts will be recognised as legal proof of payment,” the minister said.

The government also intends to improve cash management and restructure domestic debt to reduce short-term interest burdens, freeing up capital for productive investment.

To market Nigeria more aggressively as an investment destination, Uzoka-Anite pointed to the country’s large consumer base, natural resource endowment, strategic location and what she described as growing reform momentum. A central investor desk will be established within the ministry of finance to streamline engagement with investors.

“The 2026 agenda is designed to convert these fundamentals into predictable returns, bankable projects and durable partnerships with global investors,” the statement said.

Implementation of the strategy is expected to intensify in early 2026 through structured engagement with investors, development finance institutions and multilateral partners. “Leadership,” Uzoka-Anite added, “is measured by the courage to reform and the capacity to deliver results.”