Nigeria urged to set five economic targets before 2030
By the AFREEQUE newsroom, based on Punch
Adesoji Adesugba, vice-president of the Abuja Chamber of Commerce and Industry, has proposed interim targets to measure Nigeria’s progress towards a $1 trillion economy by 2030. They include a $500 billion economy, sustained growth of 6% and reliable electricity generation of at least 8,000 megawatts, according to Punch.
Adesoji Adesugba, first vice-president of the Abuja Chamber of Commerce and Industry, on Tuesday urged the Nigerian federal government to set five measurable economic targets before 2030. These include an economy worth $500 billion, sustained real growth of at least 6%, foreign direct investment accounting for more than 10% of capital inflows, reliable availability of at least 8,000 megawatts of electricity on the grid, and single-digit inflation, according to Punch.
These indicators are intended as milestones towards President Bola Tinubu’s ambition to grow the Nigerian economy to $1 trillion by 2030. Adesoji Adesugba, who also leads the ACCI Business Entrepreneurship, Skills and Technology Centre, said a public dashboard would allow citizens, investors and the media to track the government’s progress and hold it to account.
The average power actually available on Nigeria’s grid stood at 4,758 megawatts in August 2026, a level considered insufficient to support the industrial expansion needed. Adesugba warned that the $1 trillion target risked remaining a political slogan without substantial improvements in electricity, productive investment, productivity and job creation.
The proposal follows solar initiatives praised by the United Nations on 19 October, which are expected to help provide power to five million people in Nigeria, according to [Nigeria’s solar initiatives]( /news/un-praises-nigeria-s-solar-initiatives-for-powering-five-million-people).
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
