The Federal Government has expressed confidence the economy will attain the $1 trillion Gross Domestic Product (GDP) target set by President Bola Tinubu by 2030.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this known in Abuja during a courtesy visit by the European Union (EU) Parliamentary Committee on Foreign Affairs, led by Mr. David McAllister.

Bagudu said the administration was working closely with local and international partners to achieve the goal, noting that the government?s growth strategy places significant emphasis on private sector participation.

?Our President has set a clear target for Nigeria to achieve a one trillion-dollar GDP by 2030,? the minister told the EU delegation. ?This is ambitious, but achievable through partnerships such as ours with the European Union.?

In a statement by the ministry on Tuesday, Bagudu explained that the government?s economic blueprint is built around strong collaboration with the private sector, which he said would provide 86 percent of the investment required to reach the $1 trillion GDP target.

He said the Tinubu administration was determined to achieve double-digit economic growth in an environmentally sustainable manner within the target period.

?We are pursuing growth that is both inclusive and responsible?one that creates jobs, strengthens productivity, and protects the environment,? he said.

Bagudu credited the ongoing reforms under President Tinubu for placing Nigeria?s economy on a more sustainable path and expressed appreciation to the European Union for its continued partnership and support.

The Minister specifically thanked the Head of the EU Delegation to Nigeria, Ambassador Gauthier Mignot, for facilitating Nigeria?s participation in the 2025 Global Gateway Forum and for securing a N320.5 billion (?190 million) credit line allocated to Nigerian commercial banks and financial institutions to boost lending to the agricultural sector.

He noted that the EU?s Global Gateway Project, which plans to invest ?300 billion in Africa, aligns with Nigeria?s priorities of promoting a green, digital, and inclusive economy while enhancing healthcare, education, and democratic governance.

Bagudu assured the EU delegation of the government?s readiness to deepen cooperation across key sectors of mutual interest. ?We believe the absorptive capacity of our economy is strong, whether in agriculture or other forms of infrastructure. We are committed to partnering with you and fostering mutually beneficial relationships for our people,? he said.

The EU delegation leader, Mr. David McAllister, described Nigeria as the EU?s largest trade and investment partner in Africa, accounting for a significant share of imports and exports between both regions.

McAllister said the visit was aimed at strengthening collaboration in critical areas such as clean energy, industrialization, and economic diversification. ?We seek to encourage investment and renewal in clean energy, to bolster Nigeria?s manufacturing sector and industrial capacity, and to broaden cooperation and sustainable economic diversification beyond oil exports,? he stated. (The Nation)

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