The Federal Government has unveiled the 2026 Growth Acceleration Strategy, a comprehensive economic roadmap aimed at stimulating job creation, attracting domestic and foreign investment, and strengthening macroeconomic stability.
The strategy was presented by the Ministry of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, as part of efforts to transition the Nigerian economy from a phase of stabilisation to sustained and inclusive growth.
According to the government, the plan outlines a mix of fiscal and monetary interventions designed to unlock productivity, deepen private sector participation and accelerate economic expansion following recent reforms.
Four Strategic Pillars
The Growth Acceleration Strategy is anchored on four key pillars targeted at addressing Nigeria’s structural economic challenges while laying the foundation for long-term prosperity.
First is job creation and human capital development, with a focus on reducing unemployment through incentives for labour-intensive sectors such as agriculture, manufacturing and the digital economy.
The second pillar centres on investment attraction, including regulatory reforms to boost foreign direct investment and encourage domestic institutional investors to participate in large-scale infrastructure financing.
Sectoral diversification forms the third pillar, aimed at reducing Nigeria’s dependence on oil revenues by strengthening non-oil sectors such as solid minerals, creative industries and value-added manufacturing.
The fourth pillar focuses on macroeconomic stability, with measures to manage inflation, stabilise the naira and improve revenue mobilisation through the implementation of new tax reforms.
Implementation Framework
The Federal Government said the strategy would be implemented through a “whole-of-government” approach, ensuring close coordination among the Ministry of Finance, the Central Bank of Nigeria (CBN) and relevant trade and investment agencies.
A National Investment Oversight Committee will play a central role in monitoring the ease of doing business and addressing bureaucratic bottlenecks that have historically slowed down major industrial and infrastructure projects.
Key Targets for 2026
Among the key targets set for 2026 are improved GDP growth driven by higher industrial output, increased use of Public-Private Partnerships (PPPs) to close infrastructure gaps without significantly increasing public debt, and expanded access to affordable credit for small and medium-sized enterprises.
The government said improved SME financing would help stimulate grassroots economic activity and deepen financial inclusion.
Economic Context
The launch of the Growth Acceleration Strategy follows the passage of the 2026 national budget and is intended to serve as its execution framework.
Officials said the plan responds to the need for faster economic growth following a period of subsidy removals and wide-ranging economic reforms.
They added that the strategy was designed to be inclusive, with targeted interventions to ensure that the benefits of growth reach both urban and rural communities through regional development programmes and social investment initiatives.
