Nigeria urged to pursue export‑led industrialisation and $2.3 trillion infrastructure overhaul

Economist Prof. Ken Ife called for a shift from raw‑material exports to an export‑led industrialisation strategy, urging the creation of integrated agro‑industrial hubs and mineral‑processing clusters to drive Nigeria toward a trillion‑dollar economy. He warned that “if Nigeria continues exporting crude oil, agricultural commodities and solid minerals in their raw form, we are exporting jobs and importing poverty.”

Dele Oye of the Alliance for Economic Research and Ethics highlighted a severe infrastructure deficit, estimating a need for $100 billion a year and about $2.3 trillion over the next two decades to raise infrastructure stock from 35 % to the 70 % typical of developed economies. He stressed that failing public services have forced Nigerians to provide them privately, saying “Nigeria stands at a crossroads that is not unique in history.” Both speakers stress that comprehensive reforms and massive investment are essential for sustainable growth and improved public services.