The Federal Government has set a target of growing Nigeria’s Gross Domestic Product (GDP) to ₦530 trillion and raising the country’s external reserves to $58 billion by December 2026 as part of efforts to strengthen the economy.

The government said the targets align with its broader vision of building a $1 trillion economy through sustained economic reforms, increased investment, and improved macroeconomic stability.

Officials noted that ongoing reforms, including the removal of fuel subsidies, foreign exchange market reforms, enhanced fiscal discipline, and the recapitalisation of banks, are expected to drive economic growth, boost investor confidence, and expand productive sectors of the economy.

The government added that increasing external reserves would help stabilise the naira, strengthen the country’s capacity to withstand external shocks, and support long-term economic growth.

Authorities reaffirmed their commitment to implementing policies aimed at improving revenue generation, attracting both domestic and foreign investments, and creating an enabling environment for businesses across the country. Visit www.jocomms.com for more news.