LAGOS – Nigeria is pivoting toward private-led growth with a 7% medium-term GDP target, the Minister of Finance announced Monday in Lagos. Speaking at the Islamic Development Bank (IsDB) Group Day, the Minister outlined a realignment with the IsDB’s 2026-2028 framework to bridge a $14 billion annual infrastructure gap.
The address, delivered for President Bola Ahmed Tinubu, signaled a transition from economic stabilization to investment-driven transformation. To hit these targets, the government aims to raise the investment-to-GDP ratio to 30%.
This strategy requires a shift from public funding to private capital and innovative financing. The Minister highlighted Sukuk as a key tool for transparent, asset-backed infrastructure like roads. Nigeria plans to deepen ties with IsDB entities like the ICD and ITFC to securitize assets and expand capital markets.
The partnership rests on two pillars: sustainable infrastructure and human capital. Infrastructure priorities include energy access, transport, and digital innovation. For human capital, 2026 is designated the “Year of Social Development,” aiming to bring 10 million Nigerians into the productive economy.
Nigeria is also positioning itself as a leader in ethical finance. Through “Reverse Linkage” platforms, the country will share reforms in public financial management and digital agriculture with other member nations.
“To achieve our medium-term target of 7% growth, Nigeria must raise its investment-to-GDP ratio to at least 30%.” The minister stated.
The Minister concluded by calling for a move from dialogue to delivering bankable projects. He noted that the Renewed Hope Agenda and the IsDB roadmap will serve as the engine for job creation and measurable impact.
