The Minister of Budget and Economic Planning, Abubakar Bagudu has reaffirmed the government’s commitment to fostering an inclusive, sustainable, and innovation-driven framework for national development.
Bagudu emphasised that this approach is pivotal for realising the administration’s objective of establishing a $1 trillion economy by the year 2030.
“Mr President believes that development must include everyone, be sustainable over time, and embrace innovation, because what worked yesterday may not work today,” he told participants at the inaugural Annual Advocacy Lecture of the Nathaniel Atebije Foundation for Planning Advocacy on Tuesday in Abuja.
Speaking on the lecture’s theme, which he said aligns closely with the federal government’s priorities, Bagudu disclosed that Nigeria is finalising its 2026 National Development Plan, a key component of the strategy to transform the country into a $1 trillion economy within the next five years.
“Nigeria is not where we want to be, but we are determined to move forward with clear choices and a shared vision to unite all Nigerians towards achieving a $1 trillion economy,” the minister stated.
Acknowledging the scale of the target, he stressed that attaining such growth would require deliberate planning, strategic collaboration, and active participation from intellectuals, professionals, and stakeholders across all sectors.
“This goal cannot be achieved in isolation. It requires deep thought, collaboration, and contributions from all sectors of our society,” Bagudu stated.
He noted that national development extends beyond economic policy, encompassing coordinated planning across physical, environmental, social, and financial domains.
According to him, “the success of Nigeria’s development agenda rests on three pillars: inclusiveness, sustainability, and innovation.”
“Development must include everyone, it must be sustainable over time, and it must embrace innovation, because what worked yesterday may not work today,” Bagudu said.
Highlighting the importance of physical planning, the Minister described it as a critical driver of economic progress and national stability.
He observed that many persistent conflicts across the country, particularly those related to land use among farmers, herders, and communities, often stem from inadequate or poorly implemented planning systems.
“Many of the conflicts we face today stem from how we use land and space. Poor planning breeds tension, while good planning fosters peace and prosperity,” Bagudu said.
Using practical examples, he illustrated how poorly managed urban and rural spaces can become flashpoints for conflict, underscoring the need for proactive, structured, and inclusive planning approaches.
“Planning is not just about land or infrastructure; it is about people and how they live together,” he emphasised.
He linked these priorities to the administration’s Renewed Hope Agenda, which seeks to unify Nigerians around a shared vision for national progress, and urged a shift from dwelling on past shortcomings to focusing on forward-looking solutions.
“Rather than spend all our energy debating the past, we must focus on what unites us and drives collective action for the future,” the Minister stated.
Bagudu also highlighted the importance of intergovernmental collaboration, noting that effective planning requires coordination among federal, state, and local governments.
“Development is a shared responsibility. Federal, state, and local governments must collaborate to ensure planning is inclusive and effective,” he said.
Bagudu further stressed the urgency of adopting modern approaches to address population growth and technological change.
“As our population grows and technology reshapes our world, we must plan more intelligently and proactively to meet emerging demands,” he said.
Bagudu reiterated that Nigeria’s ability to achieve sustainable economic growth, reduce conflict, and build a stable society will depend largely on how effectively it manages its physical and economic spaces.
“If we get our planning right—by being inclusive, sustainable, and innovative—we will create opportunities for all Nigerians and build a more prosperous and united nation,” he said.
