The newly-appointed Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, said Nigeria could only attain the desired level of growth if 95 per cent of the economy is driven by the private sector.

The minister, who until recently occupied a similar position at the Ministry of Finance, spoke when she assumed office at the Ministry of Budget.

Uzoka-Anite, who was received by the Minister of Budget and Economic Planning, Abubakar Bagudu, and other top officials of the ministry, advised that the ‘Renewed Hope’ programme should be led by the private sector to achieve its objectives.

“I have no doubt that the President can achieve the trillion-dollar economy as he has started by laying the foundation with the introduction of economic reforms and the implementation of the National Development Plan (NDP).”

She appreciated President Bola Tinubu for the chance to serve in his administration in various roles: first as Minister of Industry, Trade and Investment, then as Minister of State for Finance and now as Minister of State for Budget and Economic Planning, alongside serving on several economic committees.

Bagudu emphasised the importance of strong policy coordination and strategic planning in achieving the Federal Government’s ambitious economic goals.

He said the target of growing Nigeria’s economy to $1 trillion by 2030 would be pursued vigorously.

Bagudu noted that the Tinubu administration planned to achieve the objective by growing the economy at seven per cent yearly, explaining that the upcoming National Development Plan (2026–2030) will guide economic reforms, investment priorities and development initiatives across the country.

Bagudu welcomed Uzoka-Anite’s appointment and told her that, as the official planning authority of the country, the ministry is responsible for preparing and coordinating national development plans, harmonising fiscal and economic policies, providing policy advice for the president, and coordinating development initiatives across the federal, state and local levels.

The minister recalled recent discussions of the National Economic Council (NEC), which identified several key policy priorities aimed at accelerating national development, including improved coordination among federal, state and local governments, especially since state governments account for about 48 per cent of public expenditure.

Other priorities, he said, involved increasing investment in security, securing ongoing funding for transformative infrastructure and strengthening enforcement against illegal activities in the extractive sector, particularly crude oil theft and illegal mining.

He said the ministry would continue to coordinate international development partnerships to support Nigeria’s economic growth, explaining that one recent milestone is the upgrade of bilateral relations between Nigeria and China to a comprehensive strategic partnership, which has led to several cooperation agreements focused on economic development.