The Federal Government has reiterated its ambition to grow Nigeria’s economy to a value of $1 trillion, following an increase in the country’s real Gross Domestic Product (GDP) growth rate to 4.43 per cent.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this while speaking on the country’s economic performance and the government’s ongoing reforms.
Edun said the latest growth figures reflected the impact of measures introduced by the Federal Government to stabilise the economy, improve productivity and attract investment.
Nigeria’s real GDP expanded by 4.43 per cent year-on-year in the second quarter of 2026, representing an improvement compared with the growth recorded in the corresponding period of the previous year.
The minister said the government’s medium-term economic strategy is focused on creating the conditions required for sustained growth and moving the country towards a $1tn economy.
He identified increased investment, improved revenue mobilisation, infrastructure development, support for businesses and stronger private-sector participation as important components of the strategy.
Edun also emphasised the need to diversify the economy and reduce excessive dependence on crude oil by strengthening non-oil sectors capable of generating employment and increasing economic output.
The government has also continued to implement reforms aimed at improving the business environment, attracting domestic and foreign investment and strengthening Nigeria’s fiscal position.
According to the minister, sustained economic growth would require continued cooperation between government and the private sector, as well as greater productivity across key sectors of the economy.
The latest GDP performance has also renewed discussions about the impact of ongoing economic reforms and whether the improved growth rate can translate into better living conditions for Nigerians.
The Federal Government maintained that its ultimate objective is to build a stronger, more productive and resilient economy capable of supporting higher incomes, creating jobs and improving opportunities for citizens.
With the economy recording stronger growth, the government said it would continue implementing its reform agenda while pursuing its long-term target of achieving a $1 trillion economy.
