By Oluwakemi Kindness
The Federal Government is targeting a reduction in its debt-service-to-revenue ratio from 62.93 per cent in 2025 to 21.01 per cent by 2030 under its proposed National Development Plan (NDP) 2026–2030.
The Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, disclosed this on Thursday in her keynote address at the sixth International Credit Rating Webinar by DataPro Limited.
She said achieving the target would require stronger revenue mobilisation, prudent borrowing and effective fiscal management.
The proposed plan also projects a reduction in public debt from 36.07 per cent of gross domestic product (GDP) in 2025 to 18.83 per cent by 2030.
It targets an increase in government revenue from 11.15 per cent to 18.70 per cent of GDP over the same period.
Uzoka-Anite said Nigeria’s ambition to achieve investment-grade sovereign credit status by 2030 depended on stronger economic fundamentals, sustainable public finances, higher productivity and credible institutions.
She said the government was pursuing reforms to broaden the revenue base, improve tax compliance, digitise revenue administration and reduce dependence on volatile oil earnings.
The proposed plan also projects capital expenditure to rise from 36.03 per cent of total government expenditure in 2025 to 57.43 per cent by 2030.
According to the minister, public resources should increasingly support infrastructure, healthcare, education, human capital development and economic diversification.
However, Nigeria’s previous National Development Plan recorded average real GDP growth of 3.11 per cent between 2021 and 2025, below its target of 4.65 per cent.
Uzoka-Anite identified inflation, infrastructure gaps, limited fiscal space and weak industrial productivity as continuing economic challenges. She also acknowledged that poverty and cost-of-living pressures remained significant concerns.
The proposed plan projects real GDP growth to reach 10.34 per cent in 2030, averaging 7.79 per cent over the five-year period.
The private sector is expected to account for approximately 72 per cent of cumulative investment.
Credit Ratings
Earlier, the Founder of DataPro Limited, Abimbola Adeseyoju, said credit ratings had become a catalyst for economic transformation, influencing investment flows, borrowing costs and access to international capital markets.
Speaking at the webinar, themed “Credit Rating as a Catalyst for Economic Transformation,” Adeseyoju said African countries needed to attract long-term investment, reduce borrowing costs and build economies resilient to external shocks.
He identified structural reforms, fiscal sustainability, deeper capital markets and greater transparency as key requirements for strengthening investor confidence.
Adeseyoju also called for global credit-rating methodologies to better reflect Africa’s economic conditions and growth potential while maintaining objective risk assessments.
He said DataPro remained committed to providing credible market intelligence to connect capital seekers with investors.
According to him, Africa’s journey towards investment-grade status would depend on consistent policy implementation, sound market infrastructure and stronger cross-border cooperation.
