Uzoka-Anite Champions Private Sector as Key to Nigeria's Economic Growth
In a significant address upon assuming her new role, Mrs. Doris Uzoka-Anite, the newly appointed Minister of State for Budget and Economic Planning, has articulated a bold vision for Nigeria's economic future. She asserted that for the nation to attain its desired level of growth, a staggering 95% of economic development must be spearheaded by the private sector, with the federal government playing a supportive role of just 5%.
Ministerial Transition and Strategic Vision
Uzoka-Anite, who previously served as Minister of State for Finance, made these remarks during her official assumption of office at the Ministry of Budget and Economic Planning. She was warmly received by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, along with other senior officials of the ministry. In her speech, she recommended that the Renewed Hope programme, a key initiative of the administration, should be primarily led by the private sector to effectively achieve its objectives.
"I have no doubt that Mr President can achieve the one trillion dollar economy as he has started by laying the foundation for that to happen through the introduction of economic reforms and the implementation of the National Development Plan (NDP)," Uzoka-Anite stated confidently. She expressed gratitude to President Bola Tinubu for the opportunity to serve in various capacities within his administration, including as Minister of Industry, Trade and Investment, Minister of State for Finance, and now in her current role, in addition to participating on other economic committees.
Bagudu's Emphasis on Policy Coordination and Ambitious Goals
Earlier in the event, Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, underscored the critical importance of robust policy coordination and strategic planning in realizing the federal government's ambitious economic targets. He reiterated the administration's goal of expanding Nigeria's economy to $1 trillion by 2030, a target that will be pursued with vigor.
Bagudu explained that the Tinubu administration plans to achieve this objective by sustaining an annual economic growth rate of 7%. He highlighted that the forthcoming National Development Plan (2026–2030) will serve as a comprehensive guide for economic reforms, investment priorities, and development initiatives nationwide. Welcoming Uzoka-Anite's appointment, Bagudu outlined the ministry's responsibilities, which include preparing and coordinating national development plans, harmonizing fiscal and economic policies, providing policy advice to the President, and coordinating development efforts across federal, state, and local levels.
Key Policy Priorities and International Partnerships
The minister also recalled recent discussions at the National Economic Council, which identified several key policy priorities aimed at accelerating national development. These include enhancing coordination among federal, state, and local governments, particularly given that state governments account for approximately 48% of public expenditure. Other priorities involve boosting investment in security, securing sustained funding for transformative infrastructure projects, and strengthening enforcement against illegal activities in the extractive sector, such as crude oil theft and illegal mining.
Bagudu further noted that the ministry continues to coordinate international development partnerships to bolster Nigeria's economic growth. He cited a recent milestone: the upgrade of bilateral relations between Nigeria and China to a comprehensive strategic partnership, which has resulted in multiple cooperation agreements focused on economic development.
Support from Ministry Officials
Dr. Deborah Odoh, the Permanent Secretary of the Ministry of Budget and Economic Planning, welcomed Uzoka-Anite's assumption of office at this pivotal time. "We are confident that your distinguished experience in public service, finance, and economic management will further strengthen the work of the Ministry as we continue to advance the Government's economic reform agenda and improve the quality of national planning and budgeting," she remarked.
Odoh expressed hope that Uzoka-Anite's insights, guidance, and engagement would add significant value to the ministry and its agencies. She emphasized that her presence would undoubtedly enhance the collective capacity of the leadership team as they work to fulfill the ministry's mandate in support of President Tinubu's Renewed Hope Agenda.
