Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has expressed confidence that Nigeria can achieve President Bola Tinubu’s $1 trillion Gross Domestic Product (GDP) target by 2030, citing ongoing reforms and growing international partnerships as key drivers.

Speaking in Abuja during a courtesy visit by the European Union (EU) Parliamentary Committee on Foreign Affairs, led by Mr. David McAllister, Bagudu described the target as ambitious but achievable with sustained collaboration from strategic development partners such as the EU.

“Our President has set a clear target for Nigeria to achieve a $1 trillion GDP by 2030. It is ambitious, but achievable through partnerships such as ours with the European Union,” the minister stated.

Bagudu explained that the federal government’s economic strategy places significant emphasis on private sector participation, which is expected to account for 86 percent of the required investments. He said the administration aims to achieve double-digit economic growth that is both sustainable and inclusive, anchored on structural reforms that have placed the economy on a renewed growth trajectory.

The minister commended the EU for its continued support, particularly in facilitating Nigeria’s participation in the 2025 Global Gateway Forum, and for providing a €190 million (₦320.5 billion) credit line to Nigerian banks to boost agricultural financing.

He also noted that the EU’s €300 billion Global Gateway Initiative would further advance green, digital, and sustainable transformation across Africa, aligning with Nigeria’s development priorities.

“Nigeria’s absorptive capacity is strong — in agriculture and infrastructure — and we are committed to mutually beneficial partnerships,” Bagudu added, pledging deeper cooperation with the EU to promote shared prosperity.

In response, Mr. McAllister reaffirmed Nigeria’s position as the EU’s top African trade partner, emphasizing that the visit was aimed at strengthening investment in clean energy, industrial growth, and economic diversification beyond oil.

---