The Federal Government has announced a shift in its economic strategy, moving from being the primary spender to acting as a strategic enabler to attract private sector investment, as part of a new Domestic Growth Acceleration Strategy (DGAS).
The Minister of State for Finance, Dr. Doris Uzoka-Anite, disclosed this on Monday in Abuja while speaking at the National Economic Council (NEC) Conference. She said the new approach has been fully integrated into the 2026–2030 National Development Plan.
Uzoka-Anite explained that the government has introduced a framework known as Investment Budgeting, aimed at reducing risks associated with major projects and encouraging private investors to commit capital.
According to her, each naira invested by the government under the new system is expected to attract between three and five times its value from the private sector.
“Our role must evolve decisively from being the primary spender to being an enabler of investments that de-risk and unlock private capital,” she said. “The government alone cannot finance the transformation we seek.”
The minister noted that Nigeria’s development needs far exceed the capacity of public funds, particularly in critical sectors such as roads, power, transportation and housing.
She said strategic public de-risking could unlock private investment at significant multiples, stressing that accelerated development at the desired scale requires a deliberate framework that mobilises private capital, builds productive assets and generates long-term economic returns.
Uzoka-Anite observed that while the economy is beginning to stabilise, more effort is needed to achieve the administration’s long-term goal of building a $1 trillion economy.
She disclosed that Nigeria recorded about four per cent economic growth recovery in 2025 but noted that the figure falls short of what is required to meet the trillion-dollar target.
“While growth of six to seven per cent is sufficient to reduce poverty, reaching a $1 trillion economy requires sustained double-digit growth,” she said, adding that such expansion must be driven by private investment and deep structural reforms.
On the 2026 fiscal outlook, the minister said government revenue is projected at ₦34 trillion. She added that the tax-to-GDP ratio is expected to approach 18 per cent once the Nigeria Tax Act 2025 is fully implemented and taxes are harmonised across states.
Uzoka-Anite also said inflation is expected to slow further, with the Central Bank of Nigeria targeting a rate below 13 per cent by the end of 2026. She attributed this outlook to ongoing bank recapitalisation, a positive trade balance and foreign reserves exceeding $40 billion.
She stressed that closing Nigeria’s infrastructure gap through government funding alone is unrealistic, noting that at current allocation levels, it would take more than 111 years to mobilise the estimated $300 billion required.
According to her, attracting private capital through Investment Budgeting remains the only viable option.
She explained that a capital pool of $100 billion could generate between $278 billion and $400 billion in economic output, depending on consumption patterns.
However, the minister cautioned that the economy still faces significant risks, including oil price volatility, food supply disruptions and climate-related shocks.
She called for strong discipline in policy implementation and closer collaboration between the federal and state governments to ensure that economic stability translates into tangible improvements in living standards.
“We must strengthen federal-state collaboration so that macroeconomic stability delivers real benefits to Nigerians,” Uzoka-Anite said.
