President says reforms are laying foundation for $1tn economy by 2030 as Atiku criticises rising cost of living
President Bola Tinubu has defended his administration’s economic reforms, saying they are necessary to position Nigeria for a $1tn economy by 2030.
President Tinubu, represented by the APC National Chairman, Prof Nentawe Yilwatda, spoke in Abuja at the second edition of the Asiwaju Scorecard Series and Policy Roundtable.
He said the removal of fuel subsidy, foreign exchange reforms, increased revenue mobilisation and infrastructure investments had strengthened the economy.
According to him, Nigeria’s external reserves have risen to about $52.7bn, while real GDP grew by 4.43 per cent in the second quarter of 2026.
President Tinubu said the government’s long-term plan includes developing major transport corridors, deep-sea ports, industrial parks, agro-processing clusters and manufacturing centres to boost trade, create jobs and attract investment.
He also highlighted investments in youths through programmes including NELFUND, skills development initiatives and access to credit.
However, former Vice President and ADC presidential candidate, Atiku Abubakar, criticised the administration’s economic policies, questioning why Nigerians had to endure years of hardship before the government began promising relief.
Atiku said recent promises of cheaper transportation, increased food production and support for vulnerable Nigerians amounted to a belated response to the cost-of-living crisis.
The two positions come as political parties intensify preparations for the 2027 general elections, with the economy expected to remain a major campaign issue.