FG Targets 7% Annual GDP Growth, Outlines Strategy for Economic Expansion

The Federal Government has set a target of 7% annual GDP growth, anchored on private investment, infrastructure development, energy security, and increased food production.

Speaking at a media briefing on Thursday, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the administration has mapped out a strategy to achieve economic stability and sustainable growth, with emphasis on private sector-led investment, job creation, and improved public services.

Edun explained that the plan revolves around two key objectives: creating a stable macroeconomic environment to support private sector expansion, and strengthening government savings and public investment in priority sectors such as education, healthcare, and infrastructure to drive growth and employment.

According to him, GDP growth rose to 3.13% in Q1 2025, up from 2.3% in Q1 2024, while inflation eased to 22.22% in June 2025. He attributed this to gains in trade, communications, and construction, despite global economic headwinds.

The government’s 7% growth target, Edun said, will be pursued through initiatives such as policy reforms to boost private sector activity, large-scale infrastructure projects, and agricultural development programmes.

“Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth. We are committed to a coordinated fiscal and monetary policy framework that can substantially and sustainably reduce inflation, enabling cheaper capital for businesses to invest and greater purchasing power for households,” Edun stated.

He reaffirmed the administration’s commitment to building an economy that benefits all Nigerians, expressing confidence that the strategy will deliver national stability and long-term prosperity.

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