The Nigerian Federal Government has rolled out a major new economic blueprint, the Disinflation and Growth Acceleration Strategy (DGAS), aimed at fundamentally transforming the nation’s economy. The ambitious plan coordinates fiscal and monetary policies with the goal of doubling the size of the economy and taming ballooning inflation back to single digits within two years.
The strategy was unveiled by the Minister of State for Finance, Doris Uzoka-Anite, during a Central Bank of Nigeria (CBN) policy seminar in Abuja. She stated that the goal is to generate annual Gross Domestic Product (GDP) growth above seven per cent by 2027, positioning the country to reach a massive $1 trillion economy by 2037.
“Nigeria’s goal is to generate a GDP of over seven per cent per annum by 2027,” Uzoka-Anite said, explaining that this rapid growth rate would “mathematically… have doubled Nigeria’s GDP by 2037.”
The DGAS framework, jointly developed by the Ministry of Finance and the CBN, represents the second major wave of reforms following the foreign exchange and energy pricing liberalisation implemented in 2023. While those initial, tough moves restored market discipline, DGAS is designed to unleash real-sector productivity and secure sustained, inclusive growth.
Under the new plan, the Ministry of Finance and the CBN will operate as a “single-window platform,” ensuring that their policies—dubbed the “twin engines” of macroeconomic management—do not work against each other. This coherence will see the CBN calibrating interest rates to support non-inflationary expansion, while the finance ministry focuses capital spending on productivity-linked infrastructure projects. Performance targets are clear: reduce inflation to single digits within 24 months, achieve seven per cent non-oil GDP growth by 2027, and create at least five million new jobs.
The core of the DGAS revolves around nine pillars aimed at boosting capital formation, industrial productivity, energy expansion, and technology. The plan’s emphasis is on structural change, moving Nigeria away from import reliance. Uzoka-Anite noted that the country still imports about 70 per cent of its industrial raw materials, a vulnerability that exposes the economy to global price shocks.
A key feature designed to attract private capital is the creation of Special Industrial Economic Zones. These zones will offer a “plug-and-play” environment with pre-approved regulatory frameworks, access to land, power, and logistics, aiming to significantly reduce the cost and time of doing business. The government estimates that eliminating redundant rules and red tape could lift GDP growth by up to three per cent annually.
The strategy also aims to leverage Nigeria’s human capital by enrolling as many as ten million young people annually in technical and vocational programmes linked to priority sectors. Furthermore, consumer credit will be repositioned as an engine of domestic demand through the expansion of the National Consumer Credit Platform. “We must transform 200 million Nigerians into active participants in national prosperity,” the Minister stressed.
The success of DGAS, Uzoka-Anite concluded, hinges on tight execution and coherence. “DGAS replaces fragmented initiatives with coherence, and policy uncertainty with structured execution,” she affirmed, marking what she called a “decisive moment” in Nigeria’s economic journey.
