Nigeria Targets 7% Growth, $1trn GDP to Score Tinubu Reforms 10/10 — Oyedele

Nigeria Targets 7% Growth, $1trn GDP to Score Tinubu Reforms 10/10 — Oyedele

Nigeria must achieve stronger economic growth, create millions of jobs and move closer to a $1 trillion economy before the Federal Government can give President Bola Tinubu’s economic reform programme a full score, Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, has said.

Oyedele gave the assessment on Wednesday in Abuja while responding to questions from journalists during a press conference on the government’s reform scorecard.

The minister rated the administration’s performance at seven out of 10, saying the score reflected progress already recorded but also recognised that significant work remained before Nigerians could fully experience the benefits of economic reforms.

“I will give the government an easy 7 out of 10,” Oyedele said.

He explained that the government would earn a higher score when the reforms translate into stronger economic growth, greater prosperity and improved living standards for Nigerians.

According to him, the ultimate test is not simply the volume of revenue collected or the improvement in selected macroeconomic indicators, but whether the economy can generate sustainable opportunities and raise incomes.

Oyedele said the government would target average economic growth of at least seven per cent, alongside a major expansion of the Nigerian economy towards the $1 trillion mark.

“We see economic growth, at least 7%, and we see our GDP heading towards $1 trillion. Then we do 10 out of 10,” he said.

The Federal Ministry of Finance has previously identified doubling Nigeria’s economy from about $450 billion to approximately $1 trillion, achieving an average annual GDP growth rate of seven per cent, creating more than 50 million jobs and…