From Crisis to $1tn: Tinubu Unveils Nigeria’s Economic Endgame

President Bola Ahmed Tinubu’s administration has set an ambitious target of growing Nigeria into a $1 trillion economy by 2030, as the All Progressives Congress, APC, declared that recent economic indicators show the country is gradually moving from reform-induced uncertainty towards stability and growth.

The APC National Chairman, Prof. Nentawe Goshwe Yilwatda, stated this on Tuesday while representing President Tinubu at the second edition of the Asiwaju Scorecard Series/Asiwaju Policy Roundtable in Abuja.

According to Yilwatda, the administration’s economic vision is to move Nigeria “from economic uncertainty to stability, from stability to growth, and from growth to prosperity.”

He said Nigeria’s gross external reserves had risen to about $52.7 billion as of August 2026, while consolidated non-oil revenue increased from approximately ₦13.63 trillion in 2023 to ₦16.4 trillion in the first two quarters of 2026.

The APC chairman also pointed to an improvement in Nigeria’s trade position, noting that the country moved from a merchandise trade surplus of about ₦44.8 billion for the whole of 2023 to approximately ₦7.54 trillion in the first quarter of 2026 alone.

Yilwatda further said real Gross Domestic Product grew by 4.43 per cent in the second quarter of 2026, while inflation declined to about 15.4 per cent from its previous peak.

However, he cautioned that the improvement in macroeconomic indicators did not mean that Nigeria’s economic challenges were over.

“The ultimate test is when stability translates into cheaper food, more jobs, affordable credit, reliable electricity and greater purchasing power for Nigerians,” he said.

Yilwatda described the $1 trillion economy target as more than a statistical milestone, saying it represented a national mission to expand production and exports, attract investment, create jobs and give young Nigerians a greater stake in the country’s economic future.

He attributed the emerging economic stability to what he described as difficult but necessary reforms introduced by the Tinubu administration since May 29, 2023, particularly the removal of fuel subsidy and reforms in the foreign exchange market.

According to him, the administration inherited an economy burdened by fuel subsidy distortions, multiple exchange-rate windows, weak revenue mobilisation, foreign exchange shortages, rising debt-service pressures and inadequate investment in critical infrastructure.

On infrastructure, Yilwatda unveiled a vision for an integrated maritime and logistics network anchored on five major deep-sea ports in Lagos, Ondo, Ibom, Port Harcourt and Calabar.

He said the proposed ports would be linked through modern rail and road infrastructure, with the Lagos-Calabar Coastal Super Highway serving as the major coastal road spine.

Under the proposed Western Corridor, the maritime gateways would be connected to the hinterland through the Lagos-Abuja-Kaduna-Kano rail corridor and the proposed Sokoto-Badagry Super Highway.

The Eastern Corridor, he said, would link eastern maritime gateways through the Port Harcourt-Abuja-Kaduna-Kano rail corridor and the proposed Calabar-Maiduguri Trans-Sahara Super Highway.

According to him, the strategy is aimed at connecting Nigeria’s ports with major cities, production centres and landlocked markets across the Sahel and Central Africa, positioning the country as a major maritime gateway and logistics hub for West and Central Africa.

He said the infrastructure programme would stimulate investment in logistics, warehousing, freight forwarding, customs, banking, insurance, manufacturing, distribution and agro-processing, while creating jobs and generating foreign exchange.

Yilwatda also called for the development of industrial parks, export-processing zones, logistics parks, agro-processing clusters and manufacturing centres along the proposed transport corridors.

He said Nigeria’s maritime ambition must go beyond the development of individual ports to include shipping, maritime logistics, ship repair, marine services, maritime finance, insurance, fisheries, aquaculture, offshore energy, coastal tourism and marine technology.

On energy, the APC chairman described the Ajaokuta-Kaduna-Kano gas pipeline as strategically important in linking Nigeria’s gas resources with major population and industrial centres in the North.

He said the project would support electricity generation, fertiliser production, manufacturing, transportation and broader industrialisation.

Yilwatda also highlighted several government programmes targeted at young Nigerians, including the Nigeria Education Loan Fund, technical and vocational training, digital-skills initiatives and the Credit Access for Nigerians’ Domestic Investment programme.

He said the initiatives were designed to expand access to education, skills and responsible credit, stressing that investing in young Nigerians was critical to building the productive capacity required for a $1 trillion economy.

The APC chairman maintained that the next phase of the Renewed Hope Agenda must go beyond impressive economic statistics and deliver measurable improvements in the lives of ordinary Nigerians.

“A good GDP number does not automatically put food on a family’s table. Stronger reserves do not pay school fees. A stronger stock market does not automatically put money into the pocket of a market woman,” he said.

He urged the government to focus on converting macroeconomic stability into cheaper food, more jobs, affordable credit, reliable electricity, increased manufacturing, stronger exports and improved purchasing power.

With the 2027 general elections approaching, Yilwatda said Nigerians would be confronted with competing political promises, including calls for the reversal of some of the administration’s reforms.

He urged voters to consider whether Nigeria should abandon or accelerate infrastructure investment, discourage investors or strengthen its position as one of Africa’s preferred investment destinations.

“For the All Progressives Congress, the answer is clear. We choose progress, productivity, investment, infrastructure, innovation, Nigerian enterprise, exports, human capital, and we choose President Bola Ahmed Tinubu,” he said.

Yilwatda said the administration’s ultimate objective was to transform Nigeria from a large domestic market into a “maritime, industrial, digital and logistics powerhouse for Africa.”

He declared that the foundation had been laid for the next phase of the economic agenda, which would take Nigeria “from reform to results, from results to growth, from growth to prosperity, and from prosperity to a $1 trillion economy by 2030..