The Federal Government has reaffirmed its commitment to building an inclusive, sustainable, and innovation-driven economy as part of a broader strategy to grow Nigeria into a $1 trillion economy by 2030.
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, made this known on Tuesday in Abuja during the inaugural Annual Advocacy Lecture organised by the Nathaniel Atebije Foundation for Planning Advocacy.
Speaking at the event, Bagudu emphasised the critical role of strategic planning in accelerating national development and economic expansion. He noted that the current administration is focused on ensuring that development efforts benefit all Nigerians, remain sustainable, and align with evolving global realities and technological advancements.
“Development must include everyone, it must be sustainable over time, and it must embrace innovation, because what worked yesterday may not work today,” Bagudu told participants at the event.
The minister disclosed that work is ongoing to finalise the 2026 National Development Plan, describing it as a key pillar of the administration’s economic roadmap designed to significantly expand the nation’s economy within the next five years.
While acknowledging existing economic and social challenges, Bagudu maintained that the government is resolute in implementing policies aimed at national progress and unity.
“Nigeria is not where we want to be, but we are determined to move forward with clear choices and a shared vision to unite all Nigerians towards achieving a $1 trillion economy,” he said.
He stressed that achieving such an ambitious target would require collaboration across multiple sectors, including government agencies, the private sector, academia, and professional bodies.
“This goal cannot be achieved in isolation. It requires deep thought, collaboration, and contributions from all sectors of our society,” he added.
Bagudu further highlighted that national development extends beyond economic frameworks and must incorporate coordinated efforts in infrastructure, environmental sustainability, land management, social systems, and fiscal planning.
According to him, inadequate physical planning and poor land management remain major contributors to conflict and instability in various parts of the country.
“Many of the conflicts we face today stem from how we use land and space. Poor planning breeds tension, while good planning fosters peace and prosperity,” he stated.
He explained that disorganised urban and rural development often intensifies communal tensions and insecurity, underscoring the need for structured and inclusive planning approaches at all levels of government.
“Planning is not just about land or infrastructure; it is about people and how they live together,” the minister said.
Bagudu also linked the administration’s planning agenda to President Bola Tinubu’s Renewed Hope Agenda, noting that it aims to foster unity and shared purpose among Nigerians in pursuit of economic growth and stability.
He urged citizens to prioritise forward-looking solutions over past challenges, calling for collective focus on national development.
“Rather than spend all our energy debating the past, we must focus on what unites us and drives collective action for the future,” he said.
The minister called for stronger synergy among federal, state, and local governments to ensure effective implementation of development initiatives.
“Development is a shared responsibility. Federal, state, and local governments must collaborate to ensure planning is inclusive and effective,” he added.
He also cautioned that rapid population growth and technological transformation are placing increasing demands on planning systems, making it imperative for authorities to adopt smarter and more proactive approaches.
“As our population grows and technology reshapes our world, we must plan more intelligently and proactively to meet emerging demands,” he said.
Bagudu concluded by stating that Nigeria’s long-term prosperity, peace, and social stability will depend largely on how well the country manages its planning systems and resources.
“If we get our planning right—by being inclusive, sustainable, and innovative—we will create opportunities for all Nigerians and build a more prosperous and united nation,” he stated.
