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Nigeria’s $1 Trillion Target Is About Jobs, Purchasing Power, Competitiveness – FiBOP President
By Prince Benson Davies
Corporate collaboration, policy consistency and institutional effectiveness have been identified as the critical roadmap for Nigeria to achieve a one trillion dollar economy by 2030.
The National President of the Finance and Business Online Publishers Association, FiBOP, Mr. Charles Onwuatogwu, stated this in his welcome address at the 2026 Annual Conference of the Association held on October 17 and 18, 2026, at Orchids Hotel, Lekki, Lagos.
The conference was themed Unlocking Nigeria’s Economic Potential: Taxation, Industry, Insurance, Fintech, Trade and Investment as Catalysts for Nigeria’s $1 Trillion Vision.
Onwuatogwu said the ambition of a trillion-dollar economy is more than a national economic target. According to him, it represents an opportunity to create a Nigeria where businesses thrive, industries expand, investors find attractive opportunities and millions of citizens gain access to decent jobs and improved living standards.
On how to achieve the objective, he said the answer lies in collaboration, policy consistency, institutional effectiveness and the determination to turn economic opportunities into measurable results.
He emphasized that economic growth is not measured in figures alone. The real success of a one trillion dollar economy, he said, will not only be measured in figures but also in the quality of life of Nigerians, the purchasing power of households, the competitiveness of industries and the ability of businesses to create sustainable employment.
He argued further that a larger economy, when supported by inclusive and sustainable growth, can generate greater government revenue for infrastructure, education, healthcare and security.
It can strengthen our capacity to compete in international markets, attract domestic and foreign investment and create opportunities for our young people, entrepreneurs and small businesses, he added.
Onwuatogwu welcomed the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, represented by his Special Assistant on Revenue, Dr. Olufemi Olarinde; the Managing Director and Chief Executive of the Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf, who chaired the occasion; the Chairman of NGX Group, Dr. Umaru Kwairanga; the Director-General of the Nigerian Insurers Association, Mrs. Bola Odukale; the Managing Director and Chief Executive of DataPro, Mr. Abimbola Adeseyoju, as well as awardees, media practitioners and other guests to the conference.
He noted that the presence of policymakers, industry leaders and media practitioners at the conference underscored the importance of collective action in driving economic reforms.
According to him, the conference was designed not just as a talk shop, but as a platform to generate practical ideas on taxation, industry, insurance, fintech, trade and investment, and how each sector can contribute to the national vision.
He urged participants to engage robustly, share experiences and propose solutions that can be translated into policy and business decisions capable of accelerating Nigeria’s journey to a one trillion dollar economy.
Onwuatogwu also commended members of FiBOP for their commitment to credible reporting and constructive engagement on economic issues, noting that accurate and balanced journalism remains vital to building investor confidence and public trust.
He expressed optimism that deliberations at the two-day event would help shape conversations around reforms and inspire collaboration between government, the private sector and the media in pursuit of inclusive and sustainable growth for Nigeria.
