$1tr Economy: NEC Unveils Framework For Renewed Hope Economic Plan

The National Economic Council (NEC) on Thursday, August 28, 2025, unveiled the framework for the Renewed Hope Development Plan (2026–2030) aimed at consolidating Nigeria’s reform agenda and actualising the $1 trillion economy targeted by the administration of President Bola Ahmed Tinubu.

This was part of the resolutions reached at the 151st meeting of the council, chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.

Briefing State House correspondents shortly after the meeting, the Minister of Budget and Economic Planning, Atiku Bagudu, said the proposed plan, code-named Renewed Hope National Plan, was part of a 30-year development plan which would ensure inclusivity and accelerated growth.

Shettima said the new national development plan would build on existing policies, deepen continuity, and align Nigeria’s growth trajectory with the long-term goals of Nigeria Agenda 2050.

Shettima described the transition as critical to sustaining the country’s economic trajectory and consolidating the administration’s ongoing reforms.

“Another major consideration today is the expiration of the National Development Plan 2021–2025 and the preparation of its successor, the Renewed Hope Plan 2026–2030.

“This, to us, is no ordinary transition. It is the bridge between lessons learnt and ambitions pursued.

“The Renewed Hope Plan will consolidate ongoing reforms, deepen policy continuity, and align our medium-term strategies with the long-term horizon of Nigeria Agenda 2050. It’s a practical roadmap towards a $1 trillion economy by 2030,” he said.