Nigeria’s economic growth on course towards $1 trillion GDP target — Finance Ministry

the government’s vision of reaching a $1 trillion GDP by 2030.

Reacting to the data released by the National Bureau of Statistics (NBS) on the country’s economic growth, the ministry stated that given “this momentum, Nigeria is well positioned to consolidate its standing among Africa’s largest economies and to advance toward the Government’s target of a USD 1 trillion economy by 2030.

“The International Monetary Fund has already ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for roughly 1.5 per cent of world growth this year, ahead of several advanced and emerging economies”.

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According to a statement by the ministry, “continued macroeconomic stability, sustained growth across productive sectors, and improving investor confidence would accelerate Nigeria’s progression toward becoming Africa’s largest economy by 2028.

“These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country. The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family”.

In the statement, the military noted that “Nigeria’s economy continues to demonstrate resilience and accelerating growth, with second quarter of 2026 real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, up from 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.

“The strong Q2 2026 outturn lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025, a clear signal of sustained strengthening…