| By: Francis Onyemachi
The Federal Government has disclosed that technology and digital services will be highly indispensable in achieving Nigeria’s $1 trillion economy target by 2030.
Mr Taiwo Oyedele, minister of Finance and coordinating minister of the Economy, stated this at the BusinessDay CEO Forum 2026 held in Lagos on Thursday, outlining plans to expand broadband infrastructure, strengthen data protection, deepen fintech regulation and accelerate artificial intelligence adoption.
Oyedele said the $1 trillion economy target remains achievable despite doubts from some economic analysts, adding that the government is backing the ambition with specific plans and actions.
“I know many Nigerians, including some very accomplished economists, do not believe that we would achieve a $1 trillion economy by 2030. But we believe it’s possible, it is feasible, and it is realistic. We’re not saying it just because it’s nice to say it. We’re putting pen to paper, and we’re taking actions,” he said.
The minister explained that the government has identified technology and the digital services ecosystem as one of the sectors with the strongest growth potential. He added that stakeholders have outlined the required actions, responsible agencies, implementation timelines and expected economic contributions from each sector.
According to Oyedele, technology and digital services are among Nigeria’s most competitive sectors and will be critical to improving productivity, driving innovation and expanding exports in the coming years.
“We are prioritising key sectors where Nigeria possesses distinct, undeniable competitive advantage, including technology and digital services, broadband expansion, data protection, clear fintech regulations and AI integration,” he said.
Oyedele said the government is working to position Nigeria as a leading exporter of digital services.
“Our goal is to scale Africa’s largest tech ecosystem, that is Nigeria, to export digital services globally,” he said.
The minister highlighted Nigeria’s growing startup ecosystem, noting that the country currently accounts for five of Africa’s technology unicorns, reinforcing its position as one of the continent’s leading fintech and innovation hubs despite recent economic challenges.
“Five of Africa’s nine tech unicorns are in Nigeria. So, if you’re in doubt as to whether this is the largest ecosystem for fintech in Africa, you have the data there,” he said.
Beyond technology, Oyedele identified agro-processing, energy transition, manufacturing and financial services as other key sectors that will support the country’s economic growth plans.
He said the government aims to move from exporting raw materials to promoting high-value local processing and storage to improve food security and transform agriculture into a major export sector.
On energy, he said the focus would include expanding off-grid solar solutions, increasing gas infrastructure investment and improving grid transmission stability to provide reliable and affordable power for businesses and industries.
He added that the government is working to position Nigeria as West Africa’s manufacturing hub while improving access to credit for small and medium-sized enterprises.
“We are supporting industrial clusters, upgrading our port facilities, and you would have seen a lot of activities around that, and domesticating supply chains. Our goal is to position Nigeria as a manufacturing hub, first for the West African region, and as a leading jurisdiction within the African continent.
“We are also improving credit access for small and medium businesses, as well as large organisations. Our goal is to transform Nigeria into the premier financial gateway for the African continent,” he said.
