Plans to increase Nigeria’s GDP from its current $450 million to $1 trillion in just eight years were recently revealed by President Bola Ahmed Tinubu.
Senior Special Assistant to the President for Media and Publicity Temitope Ajayi reported that Tinubu made the announcement during Monday’s meeting of the Federal Executive Council in Abuja.
He stated that the government’s goal was to increase GDP growth from 3.5% to 7%.
He mentioned that Tinubu’s administration had launched a plan to boost manufacturing, particularly among SMEs.
It is anticipated that GDP growth rates will climb from 3.5% to 7% by 2024 as a result of this renewed focus on the “real sector” of the economy.
President Tinubu has set a goal of doubling the size of the Nigerian economy in the next eight years, from its current $450 billion GDP to $1 trillion.
As a means of making this happen, “the government devised a roadmap to stimulate industrial growth, especially catalyzing SMEs growth and reviving up the entire industrial sector,”