The Minister of State for Finance, Doris Uzoka-Anite, on Wednesday said Nigeria must sustain annual economic growth of between 10 and 12 per cent over the next decade to achieve the $1tn economy target set by President Bola Tinubu.
Uzoka-Anite, who was represented at the event by the Assistant Director of Information and Public Relations at the Federal Ministry of Finance, Uloma Amadi, spoke at the 2026 Annual General Meeting of the Finance Correspondents Association of Nigeria in Abuja.
In her goodwill message, the minister said, “Nigeria’s GDP currently sits at approximately $375bn. To reach $1tn requires sustained GDP growth of between 10 and 12 per cent annually over the coming decade.”
She described the $1tn economy agenda as “a specific, measurable destination,” adding that the administration was pursuing structural reforms aimed at laying the foundation for long-term expansion.
According to her, when the current administration assumed office in 2023, Nigeria’s economic fundamentals were “structurally distorted,” citing fuel subsidy payments of over N5tn annually and a multiple exchange rate regime that, she said, encouraged rent-seeking and weakened investor confidence.
She noted that in January 2026, S&P Global Ratings revised Nigeria’s outlook to positive while affirming its B-/B credit ratings, citing improvements across fiscal, monetary, and external indicators.
