Tinubu Reveals How Nigeria Can Achieve Trillion-Dollar Economy In Next Decade

President Bola Tinubu has expressed confidence in his administration’s Renewed Hope Agenda, stating that it holds the potential to cultivate a trillion-dollar economy over the next decade.

The president said that the strategy centers on harnessing the nation’s population and resources, with a primary emphasis on unlocking Nigeria’s complete economic potential.

He emphasized that achieving a trillion-dollar economy relies on continuous endeavors in job creation, providing capital access for businesses of all scales, fostering inclusivity, upholding the rule of law, and combating hunger, poverty, and corruption.

President Tinubu made this statement during the inaugural session of the 2023 National Engineering Conference, Exhibition, and Annual General Meeting of the Nigerian Society of Engineers, NSE.

Tinubu, who was represented by the Vice President, Senator Kashim Shettima, maintained that with its rich population and resources, Nigeria could become a trillion-dollar economy within the next ten years.

He, however, expressed disbelief that the ambitious target could be achievable without taking into account the importance of the key elements encapsulated in the theme of the NSE Conference, “Manufacturing, Competitiveness, and Economic Growth”.

Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Stanley Nkwocha, quoted Tinubu as saying: “The Renewed Hope Agenda of my administration is defined by our commitment to unleashing our country’s full economic potential, by focusing on job creation, access to capital for small and large businesses, inclusiveness, the rule of law, and the fight against hunger, poverty, and corruption.

Acknowledging the challenges faced by most Nigerians, the President assured that “the difficult times are indeed temporary, but the benefits will be permanent.”

Enumerating, his administration’s efforts in transforming the economy and creating opportunities for citizens, Tinubu said: “I have had engagements with stakeholders across Nigeria’s manufacturing sector. I am very much aware of the problems and challenges that are uppermost in your minds: access to low-cost capital, multiple taxation, infrastructure issues, foreign exchange, and export obstacles, among others.

“I am happy to let you know that we are tackling, with unprecedented boldness and decisiveness, every one of these issues.”

The President articulated that his administration aims to enhance the country’s tax revenues while reducing the burden on both individuals and businesses.

Kanyi Daily recalls that Bayo Onanuga, the Special Adviser to Bola Tinubu on Information and Strategy, had expressed optimism that Nigerians will soon experience positive changes under this administration.