The Finance and Business Online Publishers Association (FiBOP) has identified corporate collaboration, policy consistency and institutional effectiveness as critical factors for Nigeria to achieve its $1 trillion economy target by 2030.
The president of FiBOP, Charles Onwuatogwu stated this in his welcome address at the just concluded 2026 FiBOP Annual Conference, held in Orchids Hotel, Lekki, Lagos.
The conference, themed “Unlocking Nigeria’s Economic Potential: Taxation, Industry, Insurance, Fintech, Trade and Investment as Catalysts for Nigeria’s $1 Trillion Vision,” brought together stakeholders from government, business, finance, insurance and the media to discuss strategies for accelerating Nigeria’s economic growth.
The FiBOP President described the $1 trillion economy ambition as more than a national economic target, saying it presents an opportunity to build a country where businesses thrive, industries expand, investors find attractive opportunities and millions of citizens gain access to decent jobs and improved living standards.
“The answer lies in collaboration, policy consistency, institutional effectiveness and the determination to turn economic opportunities into measurable results,” Onwuatogwu said.
He stressed that achieving the target would require coordinated efforts among government institutions, private sector operators and other stakeholders to create an enabling environment for investment and sustainable business growth.
According to him, the success of the ambition should not be measured solely by the size of the economy but also by its impact on the welfare of Nigerians.
“The real success of a $1 trillion economy will not only be measured in figures but also in the quality of life of Nigerians, the purchasing power of households, the competitiveness of our industries and the ability of businesses to create sustainable employment,” he said.
The FiBOP president noted that an expanded economy, supported by inclusive and sustainable growth, could boost government revenue and provide more resources for critical sectors, including infrastructure, education, healthcare and security.
He added that achieving the target would strengthen Nigeria’s capacity to compete in international markets, attract domestic and foreign investment, and create opportunities for young people, entrepreneurs and small businesses.
Onwuatogwu emphasised the importance of translating the country’s economic potential into tangible outcomes that would improve livelihoods and strengthen the productive capacity of the economy.
He said sustained collaboration between policymakers and businesses would be essential to addressing economic challenges, improving competitiveness and unlocking opportunities across key sectors.
The FiBOP president welcomed prominent industry leaders and policymakers to the conference, including the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, who was represented by his Special Assistant on Revenue, Dr Olufemi Olarinde.
Others were the Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, who chaired the occasion; Chairman of Nigerian Exchange Group (NGX Group), Dr Umaru Kwairanga; Director-General of the Nigerian Insurers Association, Mrs Bola Odukale; and Managing Director/Chief Executive of DataPro, Mr Abimbola Adeseyoju.
He also acknowledged the award recipients, media practitioners and other participants whose contributions, he said, underscored the importance of multi-sector collaboration in advancing Nigeria’s economic development.
The conference provided a platform for discussions on taxation, industrial development, insurance, financial technology, trade and investment as key drivers of Nigeria’s ambition to build a $1 trillion economy by 2030.
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