Nigeria plans to cut its debt-service-to-revenue ratio to 21 percent by 2030 from 62.93 percent in 2025.

‎The Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, disclosed this on Thursday at the sixth International Credit Rating Webinar organized by DataPro Limited in Abuja.

‎She said the target is part of the proposed National Development Plan 2026 to 2030, which also projects public debt to drop to 18.83 percent of GDP by 2030 from 36.07 percent in 2025.

‎Uzoka-Anite said the plan seeks to achieve investment-grade sovereign credit status through stronger economic fundamentals, sustainable public finances and credible institutions.

‎She said government revenue is projected to rise to 18.7 percent of GDP by 2030 from 11.15 percent in 2025, while capital expenditure will account for 57.43 percent of total spending.

‎She said the government will broaden revenue sources, improve tax compliance and reduce dependence on oil revenue.

She also said borrowing will focus on productive investments, including Sukuk, green bonds and public-private partnerships.

The plan projects real GDP growth of 4.68 percent in 2026, rising to 10.34 percent in 2030.

‎She said private sector investment will account for 72 percent of total investment, while gross capital formation will reach 40 percent of GDP by 2030.

Earlier, Founder of DataPro Limited, Abimbola Adeseyoju, said credit ratings have become instruments for economic transformation and gateway to international capital markets.

‎He called for more objective rating methods that recognize Africa’s growth potential.

‎DataPro Limited is licensed by the Securities and Exchange Commission as a credit rating agency.