Nigeria economic groups urge reforms to drive jobs and $1tn GDP goal

Economic organizations in Nigeria are calling for a fundamental shift in national policy to ensure macroeconomic reforms translate into tangible prosperity and growth. The Nigerian Economic Summit Group (NESG) has emphasized that while recent measures—including subsidy removal, exchange-rate unification, and fiscal restructuring—have helped restore stability, these steps are insufficient on their own. NESG CEO Tayo Adeloju stated that the next phase must focus on converting stability into transformation by driving productivity and scalable job creation to address high production costs and infrastructure deficits.

Similarly, AIESEC Alumni Nigeria warned that Nigeria must significantly accelerate its growth trajectory to meet the ambition of becoming a $1 trillion economy by 2030. According to Adetunji Oyebanji, achieving this target would require a compound annual growth rate of approximately 28.02 percent between 2026 and 2030. Current historical trends suggest the economy would fall far short of this goal without a fundamental change in economic direction, sustained investment, and improved infrastructure.