The Federal Government has reaffirmed commitment to a new Investment Budgeting approach that prioritises implementation discipline, measurable performance outcomes, and market-led governance structures to unlock Nigeria’s target of building a 1 trillion dollar economy.
Minister of State for Finance, Dr Doris Uzoka-Anite disclosed this during a strategic engagement with the Chief Executive Officer of Nigerian Economic Summit Group (NESG), Dr Tayo Aduloju in Abuja recently.
She emphasised that Nigeria must shift away from models that transfer critical infrastructure assets to operators without the technical capacity, capital depth, or incentive structure required to deliver results.
According to her, “Implementation is key. Government’s role is to lead framework, design the policy, support and catalyse the private sector, and put money behind it. But performance must be measurable.
“There must be clear metrics to measure output, jobs and income generation, and there must be consequences. If performance is not delivered, we must be able to withdraw support or claw back what has been provided,” she said.
The Minister noted that past outcomes in certain sectors underline the urgency of a new performance regime. She cited persistent inefficiencies and weak investment incentives as examples of what happens when governance and accountability are misaligned with service delivery.
Dr Uzoka-Anite disclosed that the Ministry is engaging with the Ministry of Finance Incorporated (MOFI) to review government’s equity positions in certain strategic assets, strengthen oversight, and ensure that shareholding translates into enforceable performance.
In a statement released from her office, the Minister explained that Investment Budgeting framework is designed around a KPI-based accountability system that links government support to transparent performance targets and measurable national outcomes.
In response, Dr Aduloju welcomed the direction of reform and underscored the need for a competitive governance layer to ensure optimal performance of national assets. 
Drawing on international best practice, he referenced the use of competitive asset councils in the Middle East that evaluate projects against national performance benchmarks and enforce strict entry and exit rules based on delivery.
Dr Uzoka-Anite agreed that Nigeria can adapt such governance mechanisms. She outlined a pathway that combines stronger market discipline with the state retaining a minority equity position, while enabling technically competent private investors to drive performance under competitive pressure and global standards.
To support capital mobilisation at scale, the Minister also revealed plans to deploy new investment strategies that strengthen Nigeria’s financial base and channel long-term funding into priority sectors.
She clarified that the approach is centred on investment, not grants, and will be structured to crowd in institutional capital.
As part of this effort, Dr Uzoka-Anite announced plans to launch a multi-sector umbrella fund with multiple sub-funds targeted at key sectors of the economy.
The platform is expected to broaden participation for risk-averse institutional investors, including pension funds, by enabling indirect exposure through professionally managed vehicles with robust governance and risk management.
The engagement reflects the Federal Government’s continuing consultations with private sector leaders to refine an Investment Budgeting framework that delivers measurable national outcomes, accelerates productivity, and deepens investment into real-economy growth.
