The Minister of Budget and Economic Planning, Abubakar Bagudu, has reaffirmed President Bola Tinubu’s commitment to inclusive, sustainable, and innovation-driven development, stating that it is central to achieving a $1 trillion economy by 2030.
Bagudu made this known on Tuesday in Abuja during the inaugural Annual Advocacy Lecture of the Nathaniel Atebije Foundation for Planning Advocacy.
Nigeria Finalising 2026 Development Plan
According to the minister, Nigeria is currently finalising its 2026 National Development Plan, which will serve as a key roadmap toward the administration’s economic transformation agenda.
“Nigeria is not where we want to be, but we are determined to move forward with clear choices and a shared vision to unite all Nigerians towards achieving a $1 trillion economy,” he said.
He stressed that achieving this target will require collaboration across sectors, including professionals, intellectuals, and policymakers.
“This goal cannot be achieved in isolation. It requires deep thought, collaboration, and contributions from all sectors of our society,” Bagudu added.
Three Pillars of Development
The minister identified inclusiveness, sustainability, and innovation as the three core pillars of Nigeria’s development strategy.
“Development must include everyone, it must be sustainable over time, and it must embrace innovation, because what worked yesterday may not work today,” he said.
He noted that national development goes beyond economic policy and must integrate physical, environmental, social, and financial planning.
Planning Key to Stability and Growth
Bagudu highlighted the importance of physical planning as a critical driver of economic growth and national stability.
He linked recurring conflicts across the country, particularly land-related disputes involving farmers and herders, to weak or poorly implemented planning systems.
“Many of the conflicts we face today stem from how we use land and space. Poor planning breeds tension, while good planning fosters peace and prosperity,” he stated.
He added that planning should focus on people and how communities coexist, not just infrastructure and land use.
Call for Collaboration Across Government
The minister emphasised that effective national development requires strong coordination among federal, state, and local governments.
“Development is a shared responsibility. Federal, state, and local governments must collaborate to ensure planning is inclusive and effective,” he said.
He also stressed the need for modern planning approaches to address population growth and rapid technological changes.
Focus on Future, Not Past
Bagudu urged stakeholders to prioritise forward-looking solutions rather than dwelling on past challenges.
“Rather than spend all our energy debating the past, we must focus on what unites us and drives collective action for the future,” he said.
He linked the strategy to the administration’s Renewed Hope Agenda, which aims to drive national unity and economic progress.
Outlook
The minister concluded that Nigeria’s ability to achieve sustainable growth, reduce conflict, and build a stable society will depend largely on how effectively it manages its physical and economic spaces.
“If we get our planning right—by being inclusive, sustainable, and innovative—we will create opportunities for all Nigerians and build a more prosperous and united nation,” he said.
