President Bola Tinubu has said that a One Trillion Dollar Nigerian Economy is possible by 2026, and a Three Trillion Dollar Economy is possible within this decade noting that Nigeria can do it with double-digit, inclusive, sustainable, and competitive growth.
This was as he allayed the concerns of the business community, assuring them that crucial plans are underway to improve foreign exchange liquidity.
Declaring the 29th Nigerian Economic Summit (NES) in Abuja, President Tinubu added that he is confident that by working closely with the private sector, financing the Three Trillion Dollar National Infrastructure Stock can be achieved in 10 years and not in 300 years.
The President said the construction of megacities in every geopolitical zone of the size and scale of Lagos must not take six decades because it can be achieved in one decade, emphasizing that a fully networked and connected Nigeria by rail, gas, fibre optics and road network can be constructed in less than 20 years with thriving Industrial Zones in every geopolitical zone of Nigeria before 2030.
While declaring that by January 2024, the new student loan program, consumer credit schemes will have come into effect, President Tinubu said new and affordable homes will also be built at record pace.
He outlined the eight priority items of his administration as ending poverty, achieving food security, economic growth and job creation, access to capital across all segments of society and the economy, inclusivity, security, fairness and rule of law, and anti-corruption.
He Stated that he is committed to delivering improved livelihoods and positive economic outcomes which Nigerians can tangibly feel and experience.
With more than 133 million multidimensionally poor Nigerians, the NESG boss, Niyi Yusuf said a multi-trillion dollar economy growth trajectory will urgently need certain actions including macroeconomic stabilisation programme supported by an aggressively scaled national security effort to halt all forms of syndicated and organised crime around crude oil and solid minerals; a made-in-Nigeria Agenda.
The annual Nigerian Economic Summit is organized by the Nigerian Economic Summit Group in collaboration with the Federal Ministry of Budget and National Planning.