Nigeria unveils plan to become top world economy by 2050

Nigeria Agenda 2050, introduced by President Muhammadu Buhari, promises to boost real GDP growth by 7% and generate 165 million new jobs nationwide.

Before the opening of the FEC meeting on Wednesday, the President held the launch, which took place around seven weeks to the day after the Federal Executive Council (FEC) adopted the policy statement on March 15.

In his remarks, President Buhari claimed that a dynamic knowledge-based economy would bring about sustainable development by the year 2050.

He said that the plan, which also aims to increase Nigeria’s per capita income to $33,328 annually so that the country can be ranked among the top economies in the world by 2050, will be helpful.

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In November 2020, Buhari established the National Steering Committee to create the Nigeria Agenda 2050 and the Medium-Term National Development Plan 2021–2025.

The council then held a moment of silence in memory of the late Musa Gwadabe, who served as Minister of Solid Minerals Development and former Minister of Employment, Labour, and Productivity until passing away on Wednesday, April 26, 2023, at the age of 86.

Vice President Yemi Osinbajo, Secretary to the Government of the Federation, and others attended the FCT meeting.

Minister of Interior Rauf Aregbesola; Ministers of Science and Technology Olorunimbe Mamora; Finance Minister Zainab Ahmed; Minister of Transportation Mu’azu Sambo; Minister of Agriculture Mohammed Abubakar; Minister of Health Osagie Ehanire; Minister of Communication and Digital Economy Isa Pantami, Minister of Sports Sunday Dare, Minister of Works and Housing Babatunde Fashola, and Minister of the Federal Capital Territory Mohammed Bello are also in attendance.

Also present are the Ministers of State for Budget and National Planning, Clem Agba; Industry Trade and Investment, Mariam Katagum; Foreign Affairs, Zubairu Dada and Health, Ekumankama Nkama.