Dodoma — MEMBERS of Parliament have commended the well-articulated Vision 2050 but stressed that for its goals to be realised, the economy must maintain growth of 8-10 per cent while ensuring benefits reach all citizens.
This came during debates on the Long-Term National Plan spanning 25 years (2026/27-2050/51), the Fourth Five-Year National Development Plan (FYDP IV) 2026/27-2030/31 and the proposed National Development Plan for the 2026/27 fiscal year.
Musoma Rural MP, Professor Sospeter Muhongo (CCM), said that if the economy fails to achieve growth of 10 per cent or more, the country's goal of becoming a one-trillion-dollar economy would face serious obstacles.
Prof Muhongo said that the government must set clear benchmarks for six key sectors to effectively contribute to the country's Gross Domestic Product (GDP).
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He said agriculture should contribute at least 35 per cent, oil and gas 25 per cent minerals 20 per cent, tourism 15 per cent, livestock and fisheries 3 per cent, and sports, arts and culture 2 per cent.
"If we don't reach these targets, achieving a one-trillion-dollar economy will be impossible," he said.
He also stressed the importance of creating new revenue sources through these six key sectors, including the establishment of Sovereign Wealth Funds or Natural Resources Wealth Funds.
Prof Muhongo urged the government to set up a Natural Gas Sovereign Wealth Fund, noting that Tanzania is on track to capitalise on 57 trillion cubic feet of natural gas, especially through the Liquefied Natural Gas (LNG) project in Lindi Region.
He also recommended expanding exploration to the Ruvuma Basin, where potential gas reserves could exceed 100 trillion cubic feet. He also proposed creating a Minerals Wealth Fund to leverage Tanzania's rich gold reserves.
"Gold is currently trading at 5,000 US dollars per ounce globally. We must take advantage of what we have. We also have Tanzanite, unique to Tanzania, but India leads in exports, earning 80 million US dollars last year, compared to Tanzania's 19.2 million US dollars," he noted.
He further recommended capitalising on technology minerals such as graphite and helium gas, which has reserves exceeding 170 billion cubic feet.
He also urged strengthening gold reserves. Prof Muhongo called for better engagement with the diaspora to maximise remittance inflows.
"We must export our human capital to fully benefit from the diaspora. Currently, labour export is very low compared to other countries."
He also suggested the government to consider state capitalism, citing China's success through powerful state-owned enterprises.
"We need to establish companies that heavily invest in minerals, gas, tourism and energy," he proposed.
He stressed that energy is key to achieving a one-trilliondollar economy, emphasising the importance of an energy mix.
Tarime Urban MP, Esther Matiko (CCM), also stressed the need for the economy to grow by 10 per cent.
She noted that although the plan aims to reach 70,000 megawatts of energy by 2050/51, current projects are being implemented at a very slow pace.
She emphasised the importance of completing projects like Mchuchuma and Liganga, Ruhudji, Singida Wind Power and geothermal initiatives. She recommended stronger private sector involvement in both power generation and distribution.
Ms Matiko also suggested conducting a Regional Potential Assessment to identify each region's capacity to contribute to the economy using local resources. She added that tourism remains underexploited, and further efforts are needed to fully capitalise on Tanzania's natural attractions.
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As Tanzania approaches 2031, the country is embarking on one of its most ambitious development journeys.
The Fourth Five-Year Development Plan (FYDP IV) 2026/27-2030/31 lays the first building blocks for Vision 2050, reinforcing Tanzania's long-term goal of becoming a strong, competitive and inclusive middle-income economy.
At its core, the plan is not just about numbers; it aims to transform lives, strengthen institutions and position Tanzania as a regional and global economic player.
The plan sets bold economic targets: By 2031, Tanzania aims to achieve a nominal GDP of 118 billion US dollars, a real GDP growth rate of 10.5 per cent and GDP per capita of 1,638 US dollars.
These targets signal a decisive shift from state-led growth toward a private sector-driven economy, supported by an effective public sector and modern infrastructure.
