The federal government yesterday outlined an expansive set of policies and priorities aimed at accelerating economic growth, creating jobs and mobilising large-scale investment in 2026, as Nigeria seeks to move to a new phase of expansion.

The government stated that its strategy in 2026 would focus on strengthening stability, scaling output and attracting long-term domestic and foreign capital, as part of the ambition to place the economy on a path towards the much-talked-about $1 trillion Gross Domestic Product (GDP) by 2036.

A statement signed by the Minister of State for Finance, Dr. Doris Uzoka-Anite, said the Bola Tinubu administration was building on reforms implemented over the past two years, including exchange rate unification, energy market restructuring and fiscal consolidation, to drive higher productivity, deepen domestic value creation and expand capital formation.

According to the government, 2026 will mark a turning point in which policy emphasis will shift decisively from stabilisation to growth, with a focus on lowering risk, unlocking private capital and ensuring sustainable returns for investors while expanding opportunities for Nigerians.

It said the new economic strategy was anchored on macroeconomic predictability, clear sectoral investment pathways and disciplined policy execution, which it described as critical to restoring investor confidence and reducing uncertainty across the economy.

“In 2026, the Federal Government of Nigeria will focus on key policies and priorities to accelerate economic growth, create jobs and mobilise investments to build a prosperous Nigerian economy. The Federal Ministry of Finance will anchor a comprehensive Growth Acceleration and Investment Mobilisation Strategy aimed at strengthening macroeconomic stability, and positioning Nigeria as a premier destination for long-term Foreign Direct Investment (FDI).

“Building on foundational reforms implemented over the past 24 months, including exchange rate unification, energy market restructuring, and fiscal consolidation, the Tinubu administration is advancing into a second wave of reforms focused squarely on unleashing accelerated GDP growth, productivity, and capital formation.

“In 2026, Nigeria’s economy will enter a transition phase from stabilisation to expansion. Going forward, the government’s focus will be to scale output, deepen domestic value creation, and place the economy on a credible path toward a $1 trillion GDP by 2036,” it stressed.

That aspiration, it said, will be achieved by domesticating key supply chains to use raw materials, a workforce, and intellectual property sourced competitively from Nigeria in line with the ‘Nigeria First Policy’ launched by President Bola Tinubu, and building an open, export-oriented economy with strong domestic aggregate demand.

As part of efforts to anchor stability, the ministry said it would maintain close coordination with the Central Bank of Nigeria (CBN) to support disinflation, exchange rate stability and orderly credit conditions.

Besides, fiscal and monetary alignment, the statement noted, would remain central to reducing volatility, compressing sovereign risk premiums and lowering the cost of capital for both public and private investment.

The ministry said it had adopted the CBN’s December 30, 2025 macroeconomic outlook as its baseline and would work with the apex bank and the Nigeria Revenue Service (NRS) to implement a disinflation and growth acceleration strategy aimed at restoring Nigeria’s investment grade fundamentals over the medium term.

On growth, the minister said Nigeria would pursue a sector-led strategy designed to unlock private capital, boost exports and stimulate domestic demand. It said barriers to growth would be dismantled, price controls removed and a willing buyer willing seller philosophy infused into sectoral regulations to allow entrepreneurial capital to flourish.

Priority sectors identified by the government include energy and gas-based industrialisation, agribusiness and food value chains, manufacturing and light industry, housing and urban infrastructure, healthcare and life sciences, digital services, creative and tourism industries, logistics and distribution infrastructure, as well as solid minerals and critical metals.

The statement said federal ministries, state governments and development partners would align around a common investment thesis built on policy clarity, bankable projects and rapid removal of regulatory bottlenecks.

Sector-specific working groups, it added, would fast-track reforms and investment pipelines capable of absorbing large volumes of domestic and foreign capital.

The government also emphasised capital formation as a central pillar of its 2026 growth agenda. It said reforms would be implemented to deepen capital and insurance markets, expand long-tenor local currency instruments, improve liquidity and transparency, and strengthen investor protections to support infrastructure, housing and productive sector financing.

According to the ministry, regulatory changes would encourage greater participation by pension funds, insurance firms and institutional investors, while insurance market reforms would focus on recapitalisation, improved supervision and expanded coverage to better manage economic and climate-related risks.

To broaden access to finance, the government said it would prioritise financial inclusion and the expansion of consumer credit to households, microenterprises and the informal sector, in order to support domestic demand and translate macroeconomic reforms into tangible welfare gains.

It said partnerships with commercial banks, microfinance institutions, fintech companies and credit guarantee schemes would be deepened to deploy innovative risk-sharing instruments and digital credit infrastructure, with particular attention to women, youth-led enterprises and first-time borrowers.

The statement also outlined a strategic role for development finance institutions, noting that the Ministry of Finance would assume responsibility for development finance previously handled by the central bank and issue new guidelines for a forward-looking strategy.

Given Nigeria’s growth ambitions and an estimated requirement of about N246 trillion in long-term capital through 2036, the government said institutions such as the Bank of Industry (BoI) and the Nigerian Export-Import Bank would be strengthened to de-risk priority sectors, crowd in private investment and anchor investor confidence.

Nigeria’s reform momentum, policy clarity, and execution discipline provides a credible platform for DFIs to deploy capital at scale, with confidence, and measurable impact.

The Federal Government affirms its full support for DFI-led and DFI-supported initiatives aligned with national priorities and commits to maintaining the policy consistency, institutional coordination, and implementation focus required for successful delivery.

On fiscal sustainability, the government said it would strengthen non-oil revenue mobilisation through improved compliance, digital systems and transparency. It highlighted the commencement of new federal tax laws from January 1, 2026 and the rollout of a Revenue Optimisation Platform across ministries and agencies, with electronic receipts becoming the sole legal proof of payment for federal services.

It also pledged deeper coordination with the Nigerian National Petroleum Company Limited (NNPC) and petroleum regulators to improve oil and gas revenue assurance and fiscal accountability, while reviewing constraints such as pricing and domestic supply obligations that limit capital expansion in the sector.

“To support fiscal sustainability without distorting growth, the FGN will strengthen non-oil revenue performance through improved compliance, digital revenue systems, and enhanced transparency across federal agencies.

“The ministry will continue to review efforts to boost revenue generation in 2026 from a mix of sources. We are optimistic that with the new federal tax laws, effective as of January 1, 2026, royalties, taxes, tariffs, fees, and related line items will be vigorously collected and remitted to the Treasury Single Account (TSA),” the federal government added.

Enabling this effort, it said, will be the new federal Revenue Optimisation Platform (RevOps) which will be rolled out across the federation and MDAs starting January 1, 2026. The system, it stressed, integrates across all revenue generating, and related mechanisms of the federal government.

“Integrated into RevOps platform are additional instruments such as the use of Electronic Receipts, which will now become the sole acceptable proof of payment for all federal services and products. From railway tickets to birth certificates to customs duties, only the electronic receipt template is legal as of January 1, 2026. As such, FMF expects sharper visibility on daily revenue collection, uses of cash, and overall effectiveness in managing federal resources,” it emphasised.

In addition, the government said it would pursue disciplined cash management and domestic debt optimisation to reduce short-term interest burdens, extend maturities and free up capital for growth-enhancing investments.

The statement said public sector productivity would be boosted through digitisation of workflows and investment approvals, faster decision-making and clearer accountability across ministries, departments and agencies.

To promote Nigeria as an investment destination, the government pointed to the country’s large population, natural resource base, gas reserves, strategic location, trade agreements and improved financial stability, noting that reforms were aimed at converting these advantages into predictable returns and bankable projects.

As next steps, the government said it would intensify engagement with investors, development finance institutions and multilateral partners, and establish a central investor desk within the Ministry of Finance to serve as a single interface for policy communication, disclosure and engagement.

The ministry said the administration remained committed to policy consistency, transparent governance and inclusive growth, stressing that reforms were designed to expand opportunity, restore confidence and improve the everyday lives of Nigerians.

“Nigeria will restructure its domestic debt profile to reduce short-term interest burdens and extend maturities where applicable. This strategy is designed to crowd in private investment, ease pressure on financial markets, and redirect capital toward productive sectors of the economy.

“Lower debt servicing costs will create fiscal space for infrastructure, human capital development, and catalytic investments aligned with national growth priorities,” the finance ministry added. (THISDAY)

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