Uzoka-Anite: Investor Trust in Institutions Key to Tinubu’s $1trn Economy Goal

• BPE to commercialise two NIPPs,  contribute over N189bn revenue in 2026

•Partners AGF to resolve long-standing litigation, arbitration matters

Ndubuisi Francis and James Emejo in Abuja

The Minister of State for Finance, Dr. Doris Uzoka-Anite, said President Bola Tinubu’s $1 trillion economy ambition will be driven not by government action alone, but by investor confidence in Nigeria’s institutions and by entrepreneurs empowered with access to capital and markets.

She also stated that the attainment of the targeted milestone was dependent on the skills of young Nigerians who find opportunity rather than frustration, and the informed engagement of citizens who understand what their country is trying to do and why.

She spoke yesterday at the 2025 annual general meeting of the Finance Correspondents Association of Nigeria (FICAN), Abuja with the theme, “Actualising President Bola Ahmed Tinubu’s $1 Trillion Economy Agenda.”

The minister, who was represented by the Assistant Director, Information and Public Relations, Federal Ministry of Finance, Mrs. Uloma Nneka Amadi, argued that Tinubu’s $1 trillion economy agenda would not be built through government action alone.

“It will be built through the confidence of investors who trust our institutions, the productivity of entrepreneurs who can access capital and markets, the skills of young Nigerians who find opportunity rather than frustration, and the informed engagement of citizens who understand what their country is trying to do and why,” she said.

However, she noted that the theme of the event was not just a slogan, but a specific, measurable destination.

Uzoka-Anite said, “Nigeria’s GDP currently sits at approximately $375 billion. To reach $1 trillion requires sustained GDP growth of between 10 and 12 per cent annually over the coming decade.

“That is an ambitious target, and this administration is not shy about saying so. Ambitious targets are what move nations. What I want to share with you this morning is not a list of aspirations.

“It is an account of what we have already done, what we are building, and why the foundation we are laying is sound enough to carry that $1 trillion ambition,” she observed, explaining that when the administration took office in 2023, Nigeria’s economic fundamentals were structurally distorted.

“The fuel subsidy was consuming over N5 trillion annually, money that could not be directed toward roads, schools, or hospitals.

“Our foreign exchange market operated through a regime of multiple windows that rewarded rent-seeking over genuine investment.

“Investors could not trust the signals our market was sending. The President made two decisions in rapid succession that few considered politically survivable: the removal of the fuel subsidy and the unification of the exchange rate.

“Both decisions imposed short-term pain. Neither decision has been reversed. Today, those reforms are being vindicated by the data.

“In January 2026, S&P Global Ratings revised Nigeria’s outlook to positive, affirming our B-/B credit ratings and citing measurable improvements across our external, fiscal, monetary, and economic trajectory. That kind of third-party validation is not given lightly.”

The minister disclosed that Nigeria currently imports approximately 70 per cent of the raw materials used to produce industrial goods, noting that it signals that, “we are not controlling the long-run cost structure of our own economy.”

 On the international front, she recalled that Nigeria was removed from the Financial Action Task Force (FATF) grey list last year, a recognition that the country had strengthened its anti-money laundering and counter-terrorism financing frameworks to global standards.

“This matters because it directly reduces the compliance costs foreign investors face when engaging with Nigerian institutions. Capital flows more freely to countries that international regulators trust,” she added.

She also disclosed that the country had submitted Nigeria’s ECOWAS Tariff Offer to the AfCFTA Secretariat, establishing zero duties on 90 per cent of goods traded within the continent.

In its presentation, the Bureau of Public Enterprises (BPE), has disclosed that it is working closely with the Office of the Attorney General of the Federation (AGF) in resolving long-standing litigation and arbitration matters.

The privatisation agency restated its commitment to repositioning public enterprises as primary engines of productivity and value-creation to achieve Tinubu’s vision of a $1 trillion economy.

BPE Director General, Ayodeji Gbeleyi, who was represented at the FICAN AGM by the Director, Industries and Services, Dr. Toibudeen Oduniyi, stated that Nigeria was currently undergoing one of the most transformative economic periods in its history.

The BPE, he pointed out, has an approved work plan for 2026, comprising 15 strategic projects with projected revenue of N189.1 billion to the national treasury.

According to him, these projections reflect the agency’s deliberate effort to contribute meaningfully to fiscal consolidation, reduce reliance on debt financing and support capital expenditure priorities of government.

He said the 2026 portfolio includes the proposed commercialisation of two from the 10  National Integrated Power Plants (NIPPs), public listing of shares of a Disco on the Nigerian Exchange Limited (NGX),  concession of Oyan Dam, and assets optimisation initiatives in the oil and gas sector.

“Beyond revenue, these transactions are structured to enhance operational efficiency, unlock stranded value, attract domestic and foreign investments, deepen the capital market and stimulate job creation.

“In addition, the Bureau continues to drive  other reform initiatives such as the Distribution Sector Recovery Programme (DISREP) towards bridging the country’s metering gap and strengthen distribution network infrastructure, and the development and upgrading of strategic infrastructure through Public-Private Partnership (PPP).

“These reforms are foundational to improving service delivery, strengthening sector governance and accelerating inclusive growth.

“We are equally focused on resolving legacy disputes that have historically constrained asset performance and investor confidence,” Gbeleyi said.

On the resolution of legacy issues, Gbeleyi stated that a central pillar of BPE’s current strategy involves clearing historical hurdles that had previously deterred investors, adding that the agency is working closely with the Office of the Attorney General of the Federation to resolve long-standing litigation and arbitration matters.

“We are focused on resolving legacy conflicts that have historically outstripped asset performance and investor confidence,” explaining that the adoption of alternative dispute resolution mechanisms was already yielding financial and relational benefits, providing the policy stability required to attract global capital.

To bridge the nation’s infrastructure gap, the BPE DG stated that it was developing a robust pipeline of Public-Private Partnership (PPP) projects across several critical sectors.

Also, Jaiz Bank has reaffirmed its commitment to the growth of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, announcing an approved annual portfolio limit of N10 billion dedicated to the sector.

The bank’s Managing Director of Jaiz Bank, Sirajo Salisu, who was represented by the Group Head of Corporate Communications, Halima Ishaq, noted that the N10 billion allocation was subject to periodic review to ensure it meets the evolving needs of small businesses.

Jaiz’s intensified support for the sector, he said, recently culminated in its appointment as the Stockley Manager for GrowFund, stressing that the initiative aims to provide affordable capital to approximately 6,132 MSMEs across the federation.