ADC Presidential candidate, Atiku Abubakar
A media aide to former Vice President Atiku Abubakar, Paul Ibe, has criticised the Federal Government’s projection of growing Nigeria’s economy to $1 trillion by 2030, describing the target as unrealistic under current economic conditions.
In a post directed at the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, Ibe argued that the government’s optimism following Nigeria’s reported 4.43 per cent Gross Domestic Product (GDP) growth in the second quarter of 2026 was not enough to support the ambitious target.
Addressing Oyedele, Ibe wrote: “Dear Honourable Minister @taiwoyedele, This sounds like a tales by moonlight, a political pipe dream, very typical of the Tinubu-led APC administration.”
He continued: “You claimed that Nigeria is ‘on track’ to achieve a $1 trillion economy by 2030 because GDP grew by 4.43% in the 2nd quarter of 2026.”
Questioning the feasibility of the projection, Ibe said available economic data did not support the government’s position.
“But the mathematics says otherwise.
“The government itself has said Nigeria needs 10–12% sustained annual growth to achieve the $1 trillion target. Yet the IMF projects growth of only 4.1% in 2026 and 4.3% in 2027.
“So where will the additional 6–8% points come from?”
The Atiku aide also challenged the government’s reference to an increase in Nigeria’s dollar-denominated GDP, arguing that it did not necessarily reflect improved economic productivity.
“And the Ministry’s claim of a 17% increase in dollar GDP is hardly proof of a transformed economy. Much of that reflects the appreciation of the naira against the dollar—not a 17% increase in Nigeria’s productive capacity or Nigerians’ incomes.”
According to him, many Nigerians continue to face severe economic hardship despite official growth figures.
“At a time when Nigerians are battling crushing living costs, declining purchasing power and widespread poverty, the government cannot substitute GDP headlines for economic prosperity.”
While acknowledging that expanding Nigeria’s economy is a desirable objective, Ibe insisted that the administration must present a clear roadmap for achieving it.
“A $1 trillion economy is a worthy ambition. But ambition is not a plan, and exchange-rate arithmetic is not economic transformation.”
He added: “Until Tinubu’s APC government can credibly explain how Nigeria will move from roughly 4% growth to the 10–12% growth required, the 2030 $1 trillion promise remains a political aspiration—and, under the present dynamics, a pipe dream.”
Ibe concluded by urging the government to focus on policies that directly improve the welfare of citizens rather than celebrating economic statistics.
“Nigerians need an economy that works for them, not statistics that merely work for government propaganda.”
