President Tinubu outlines reforms for Nigeria's $1 trillion economy goal by 2030

Speaking through the National Chairman of the All Progressives Congress, Prof. Nentawe Yilwatda, at the Asiwaju Scorecard Series and Policy Roundtable in Abuja, Tinubu highlighted that these reforms have strengthened the foundation for economic stability and growth. He initiated major economic reforms on May 29, 2023, including the removal of fuel subsidies and reforms in the foreign exchange market, alongside increased revenue mobilization and investments in critical infrastructure. Tinubu noted that Nigeria's gross external reserves rose to about $52.7 billion by August 2026, and consolidated non-oil revenue increased from approximately ₦13.63 trillion in 2023 to ₦16.4 trillion in the first two quarters of 2026.

Real GDP grew by 4.43 percent in Q2 2026, and inflation fell to about 15.4 percent. The President emphasized that the $1 trillion economy is a national mission focused on increased production, exports, investment, and job creation. This ambition requires adequate infrastructure, with the Renewed Hope Agenda prioritizing roads, rail, ports, energy, and digital connectivity.

He detailed plans for an integrated five-port maritime and logistics corridor connecting Lagos, Ondo, Ibom, Port Harcourt, and Calabar, linked by modern rail and road infrastructure, including the Lagos-Calabar Coastal