The Federal Government has set a long-term goal of growing Nigeria into a US$1 trillion economy by 2036, saying the target will be driven by locally produced goods, Nigerian labour and ideas, expanded exports, stronger domestic demand, and a new phase of reforms aimed at accelerating growth, creating jobs, and mobilising private investment under President Bola Ahmed Tinubu’s Nigeria First policy.
The Minister of State for Finance, Dr. Doris Uzoka-Anite, said the Federal Ministry of Finance will anchor a comprehensive Growth Acceleration and Investment Mobilization Strategy designed to strengthen macroeconomic stability and position Nigeria as a preferred destination for long-term foreign direct investment.
She said, “Building on foundational reforms implemented over the past 24 months, including exchange rate unification, energy market restructuring, and fiscal consolidation, the Tinubu Administration is advancing into a second wave of reforms focused squarely on unleashing accelerated GDP growth, productivity, and capital formation.”
Uzoka-Anite explained that the year 2026 will mark a shift in Nigeria’s economic direction. “In 2026, Nigeria’s economy will enter a transition phase from stabilization to expansion. Going forward, the government’s focus will be to scale output, deepen domestic value creation, and place the economy on a credible path toward a US$1 trillion GDP by 2036,” she said.
According to her, the long-term aspiration will be achieved by domesticating key supply chains to rely on raw materials, a workforce, and intellectual property sourced competitively from within Nigeria. She said this approach aligns with the Nigeria First Policy launched by President Bola Ahmed Tinubu and will be supported by efforts to build an open, export-oriented economy with strong domestic aggregate demand.
“Our focus is to move decisively from stabilization to growth. The reforms underway are designed to lower risk, unlock private capital, and ensure that Nigeria delivers sustainable returns for investors while expanding opportunity for our citizens. Outlined below are the steps to be taken to deliver that outcome,” the minister said.
Uzoka-Anite noted that the 2026 economic resurgence strategy is anchored on three principles she described as critical to investor confidence. She identified the first as macroeconomic predictability, which she explained as a stable and transparent economic environment where inflation, exchange rates, and fiscal policies are consistent enough to reduce uncertainty for investors and businesses.
She said the second principle is clear sectoral investment pathways, referring to well-defined priority sectors supported by articulated strategies, incentives, and regulations that guide investors on where and how to deploy capital effectively. The third principle, she added, is disciplined policy execution, meaning the consistent and timely implementation of policies as designed, without abrupt reversals or weak enforcement.
According to the minister, key policy and investment priorities for 2026 will include stronger policy coordination to anchor stability and lower risk premiums. She said the Ministry of Finance will maintain close, institutionalized coordination with the Central Bank of Nigeria to support disinflation, exchange rate stability, and orderly credit conditions.
She added that fiscal and monetary alignment will remain central to reducing macroeconomic volatility and restoring Nigeria’s investment-grade fundamentals over the medium term. She said the Federal Ministry of Finance has accepted as a baseline the macroeconomic forecast published by the Central Bank of Nigeria on December 30, 2025, regarding the Nigeria Economy Outlook.
“The government’s objective is to lower inflation expectations, compress sovereign risk premiums, and reduce the cost of capital for both public and private investment,” Uzoka-Anite said. She explained that this coordinated approach is contained in the Disinflation and Growth Acceleration Strategy document co-sponsored by the Central Bank of Nigeria, the Federal Ministry of Finance, and the Federal Inland Revenue Service, now known as the NRS.
The minister said the government will also pursue a sector-led growth strategy to unlock private capital. “Nigeria will pursue a sector driven growth model that combines export expansion with rising domestic demand. Our work will focus on dismantling various barriers to growth and infusing a willing buyer and willing seller philosophy in sectoral policy frameworks and regulations,” she said.
She added that price controls and restraints on volume or market access will be removed to allow sectors reach their full potential. “Price controls and restraints on volume or market access will be stripped away to enable the full potential of these sectors to emerge, and entrepreneurial capital to flourish,” she said.
Uzoka-Anite listed priority sectors as energy and gas-based industrialization, agribusiness and food value chains, manufacturing and light industry, housing and urban infrastructure, healthcare and life sciences, digital services and technology-enabled trade, the creative and tourism industry, logistics networks and distribution infrastructure to support export trade, and solid minerals and critical metals.
She said federal ministries, states, and development partners will align around a common investment thesis based on policy clarity, bankable projects, and rapid removal of regulatory barriers. “Sector-specific working groups will fast-track reforms and investment pipelines capable of absorbing large-scale domestic and foreign capital,” she said.
Giving an example, she said Nigeria will work with public and private stakeholders to rebuild cocoa growing, processing, and export capacity. “In partnership with key stakeholders, public and private, Nigeria will work to rebuild its cocoa growing, processing and export capabilities, allowing us to sharply boost non-oil commodity income while meeting end market requirements such as European Union rules over the coming years,” she said.
The minister said the Federal Government will advance targeted reforms to deepen Nigeria’s capital and insurance markets as engines of long-term investment and risk mitigation. “Priority actions include expanding long-tenor local currency instruments, improving market liquidity and transparency, and strengthening investor protections to support infrastructure, housing, and productive sector financing,” she said.
She insisted that emphasis will also be placed on expanding retail capital mobilization through growth in investment accounts to ensure citizens participate in expected market gains. “Regulatory reforms will encourage greater participation by pension funds, insurance companies, and institutional investors in capital markets,” she said.
Uzoka-Anite added that insurance market reforms will run in parallel with capital market reforms. “In parallel, insurance market reforms will focus on recapitalization, improved supervision, and expanded coverage to better manage economic and climate-related risks. A stronger insurance sector will enhance creditworthiness, reduce project risk, and improve the overall investment climate by providing reliable risk transfer mechanisms for domestic and foreign investors,” she said.
She said capital formation remains central to Nigeria’s growth acceleration strategy. “Capital formation is central to Nigeria’s growth acceleration strategy and its ability to achieve the desired GDP growth in 2026,” she said.
According to her, the government will focus on expanding long-term, patient capital while lowering investment risk. “Also, deploying blended finance instruments, credit enhancements, and first-loss capital working in partnership with bilateral and multilateral development finance institutions to lower project risk and improve bankability,” she said, adding that “these mechanisms are designed to crowd in domestic institutional investors and foreign direct investment by aligning public capital with private return expectations.”
