Tinubu says productive investment key to $1 trillion economy
Vivian Aghanu
President Bola Tinubu has promised to move Nigeria to a $1 trillion economy, but said the target could not be achieved through announcements alone.
According to the president, there is need for stronger cooperation between the government and the private sector.
He called on businesses to increase productive investment, create new industries, employ more Nigerians and develop local value chains that can compete in the international market.
Tinubu also identified good corporate governance as important to attracting investors and improving confidence in the Nigerian economy.
He said Nigeria must improve its infrastructure, electricity supply, security and regulatory system while also diversifying its exports and taking advantage of the African Continental Free Trade Area (AfCFTA).
According to him, Nigeria needs an economy that produces more, attracts both local and foreign investment and creates opportunities for inclusive economic growth.
The President also acknowledged the economic pressure experienced by Nigerians following the removal of the petrol subsidy and foreign exchange reforms, but said the government was working to address the country’s longstanding economic challenges.
The federal government has maintained that achieving the $1 trillion economy by 2030 will require effective implementation of policies, strategic investment and measurable results
