Minister of Budget and Economic Planning, Sen. Atiku Bagudu, has disclosed that part of the Agenda 2050 for Nigeria is the target to attract investment of at least $100 billion annually with 80% emanating from the private sector.

He made the disclosure during the KPMG Arise TV budget Day programme.

Sen. Bagudu emphasized the importance of subnational growth acceleration and highlighted the role of private capital. With an estimated investment requirement of $100 billion, the Agenda 2050 targets less than 20% originating from the public sector, displaying a major reliance on the private sector for investment to mobilize Nigeria’s economic agenda.

The minister also noted the president’s firm determination to address issues stifling economic progress across various sectors like agriculture, power, digital economy, energy, etc.

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Sen. Bagudu added that the N100 billion fund for consumer credit is an initiative in that direction, demonstrating the government’s dedication to facilitating economic expansion and development.

He further stated that the newly created Ministry of Finance Incorporated (MOFI) is committed to ensuring that dormant public and private asset across the country are put to productive use mainly to contribute to economic growth and revenue generation of the country.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in line with the government’s vision, had earlier emphasized that the President Tinubu-led administration is depending on the private sector to finance critical infrastructure projects across the country, signifying a collaborative effort to maintain economic growth.