The Federal Government FG ambition of building a one trillion dollar economy within four years has sparked debate among economists, policymakers, and business leaders. While the target is viewed as ambitious, experts say it is achievable if structural reforms and coordinated fiscal strategies are implemented across federal and state levels.
Analysts argue that economic diversification remains the cornerstone of any credible growth plan. They stress the need to expand non oil revenue sources, strengthen manufacturing capacity, and unlock agricultural value chains. Improved infrastructure, including power supply and transportation networks, is also seen as critical to boosting productivity.
State governments are expected to play a pivotal role by enhancing internally generated revenue, simplifying regulatory processes, and promoting investment friendly policies. Financial experts note that subnational fiscal discipline and transparency will influence investor confidence and capital inflows.
Human capital development is another priority identified by policy specialists. Expanding vocational training, digital skills programmes, and education reform could enhance workforce competitiveness and drive innovation. Additionally, targeted support for small and medium enterprises is considered vital to job creation and inclusive growth.
Macroeconomic stability, including exchange rate management and inflation control, will significantly shape progress toward the trillion dollar benchmark. Economists caution that without disciplined public spending and sustainable debt management, growth projections may falter.
While acknowledging the scale of the challenge, business leaders maintain that clear policy direction, measurable milestones, and consistent implementation can transform ambition into reality. They emphasize that collaboration between FG and states will determine whether Nigeria can convert potential into tangible economic expansion within the projected timeframe.
