President Bola Tinubu, yesterday, said Nigeria’s goal of $1 trillion economy by 2030 required growth of at least seven per cent annually from 2027.
Tinubu described the target as “not just economic, but a moral imperative,” as higher growth was the surest way to tackle poverty.
He cited the July 2025 International Monetary fund (IMF) Article IV report, which he said endorsed Nigeria’s economic trajectory and the need for investment-led growth.
The president also ordered a sweeping review of deductions and revenue retentions by the country’s major revenue-generating agencies, in a move to boost public savings, improve spending efficiency, and unlock resources for growth.
The directive issued at the Federal Executive Council (FEC) meeting at Council Chambers, State House, Abuja, which was presided by the president, applied to Nigerian National Petroleum Company Limited (NNPCL), Federal Inland Revenue Service (FIRS), Nigeria Customs Service, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Nigerian Maritime Administration and Safety Agency (NIMASA).
