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Oyedele: Investment, Production, Jobs Must Reinforce Each Other for Nigeria to Grow
By Prince Benson Davies
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said Nigeria’s ambition to become a one trillion dollar economy by 2030 will only be achieved through coordinated action across manufacturing, agriculture, mining, infrastructure and the financial services sector.
Oyedele made the call in Lagos while delivering the keynote address at the 2026 Annual Conference and Awards of the Finance and Business Online Publishers, FiBOP, held at the Orchid Hotel, Lekki, on Saturday, October 17, 2026.
He stressed that tax reform, though important, is only one component of a broader multi-sectoral economic strategy. According to him, the country must expand local manufacturing, process agricultural produce, develop mineral value chains and secure reliable infrastructure, power and logistics to unlock sustainable growth.
Represented at the occasion by the Special Assistant on Revenue, Dr. Olufemi Olarinde, the Minister highlighted the interconnectedness of key economic drivers. He explained that fintech and digitalisation help reduce transaction costs and enhance financial inclusion, while insurance protects productivity assets and mobilises long-term funds. He further noted that the capital market has maintained consistent year-on-year growth that commands global recognition.
He said these sectors reinforce one another, noting that investment expands production, production creates jobs, jobs raise incomes, technology improves efficiency, insurance protects productivity assets and trade expands markets.
The Minister maintained that Nigeria needs unwavering policy consistency and stronger accountability to sustain its economic momentum toward the one trillion dollar target by 2030.
He said frequent policy reversals and weak implementation have historically undermined investor confidence and slowed economic progress. Sustained reforms, clear communication and measurable outcomes, he argued, are essential to building trust with both domestic and international investors.
Oyedele also used the occasion to call on the media to eschew sensationalism and partner with the government in communicating accurate economic data and driving constructive public discourse.
He underscored the indispensable role of the press in building public confidence, noting that public trust is strengthened when citizens clearly understand government actions, the rationale behind them and the metrics used to measure progress.
He said government must provide timely information, welcome constructive scrutiny and explain its decisions transparently, while the media, in turn, can help distinguish verified results from speculations and separate proposed policies from implemented measures.
According to him, enough of sensational news, stressing that a responsible partnership between government and the media would ensure that Nigerians receive factual reporting that supports informed debate and national development.
Stakeholders at the conference described the keynote as a timely reminder that economic transformation requires collaboration among government, the private sector and the media, with each playing a distinct but complementary role in delivering growth, jobs and prosperity.
