Abuja, May 27, 2025 – Nigeria needs at least $100 billion investments in infrastructure annually to achieve its $30,000 per capita GDP target by 2050.
Atiku Bagudu, the Minister of Budget and Economic Planning, disclosed this in Abuja while receiving Hideo Suzuki, the new Japanese Ambassador to Nigeria in his office.
He said the government was seeking stronger partnership with international allies like Japan in the bid to secure these investments to accelerate infrastructure development and unlock long-term economic growth.
The minister said Nigeria’s long-term development plan identified investment of N100 billion annually to meet its $30,000 per capita GDP target by 2050.
He said the government was also working toward achieving a $1 trillion economy in the next five years in line with the president’s eight-point agenda.
“This is an ambitious goal, and we are already more than 10 percent of the way there,” he said.
Atiku said Nigeria was implementing targeted strategies to address underinvestment in critical infrastructure and expressed optimism about the potential contributions of the Japanese International Cooperation Agency (JICA).
Responding, Hideo Suzuki said there were many Japanese-assisted development projects in Nigeria.
He listed some of these projects to include the FCT Reduction of Non-Revenue Water Project; the Promotion of Market-Oriented Agricultural Extension Systems for Livelihood Improvement; and the Post-Harvest Processing and Marketing Pilot Project in Nasarawa and Niger States.
The said these projects showed Japan’s strong commitment to developing inclusive and effective solutions to real-world challenges in Nigeria.
“We hope to deepen our engagement across sectors and contribute to Nigeria’s development aspirations, he promised
