₦airaland Forum

“Based on the outcome of the rebased GDP, which put Nigeria’s nominal size in 2024 at N372.8 trillion (equivalent to $251.0 billion using average FX rate of N1,484.99/$) versus N277.5trillion under the old base year (implying a 34.4 percent jump).

Nigeria would require a minimum annual growth rate of 21.9% at an exchange rate of N1,500/$ or a much stronger exchange rate at a slower growth rate to attain N1trillion economy valuation by 2031.

Nigeria would require a minimum annual growth rate of 21.9 percent at an exchange rate of N1,500/$ or stronger exchange rate at a slower growth rate to attain $1 trillion economy valuation by 2031, Afrinvest West Africa Limited has predicted.

Afrinvest projected this in in its 20th Nigeria Banking Sector Report 2025 entitled, ‘ACT-BOLD: Beyond a Trillion Dollar Economy’.

According to the report, “Based on the outcome of the rebased GDP, which put Nigeria’s nominal size in 2024 at N372.8 trillion (equivalent to $251.0 billion using average FX rate of N1,484.99/$) versus N277.5trillion under the old base year (implying a 34.4 percent jump), Nigeria would require a minimum annual growth rate of 21.9% at an exchange rate of N1,500/$ or a much stronger exchange rate at a slower growth rate to attain N1trillion economy valuation by 2031.

“To close these gaps and reposition Nigeria for a leap forward (notably, the $1tn economy size target), we propose that the administration adopt the philosophical mantra of “ACT-BOLD” – a framework for reengineering Nigeria’s economic fortunes through decisive, transparent, and reform-driven governance.”

The report indicated that despite the President Bola Tinubu administration’s confidence that the banking industry will support the $1tn economy target realisation, there was a need to address longstanding impediments that constrain broad-based growth potential.

The report unveiling which also marked Afrinvest’s 30 years of operations, attracted financial sector stakeholders and market leaders.

Speaking during the unveiling, Group Managing Director, Afrinvest West Africa Limited, Dr Ike Chioke, described the company’s 30 years of operations as a journey of resilience, innovation, and leadership meant to shape Nigeria’s financial markets. He said the Banking Sector Report, first published in 2006, remained a trusted compass for policymakers, investors and financial institutions navigating the changes in Nigeria’s economy.

yarimo:
Bye election na your mate? ATIKU just want to get Media attention by fire by force

AMINDA:
Lol. First they propose an ill-thought out and economy crippling policy and then suspend it due to backlash and proceed to count it as an achievement. All while patting themselves on the back for a job well done.

KingRabota:
So na super Lion you be kool...

dfrost:
Hmm... that war took a close pal. Was in Year 1, only son.Got blasted from behind while washing his clothes.

President Bola Tinubu has said that his administration is working towards building a country that works for everyone. President Tinubu made the call yesterday at the Second Plenary Meeting of the Catholic Bishops’ Conference of Nigeria in Ikot Ekpene, Akwa Ibom State.

Represented by the Secretary to the Government of the Federation, Senator George Akume, who represented President Tinubu, said, “This administration came into office with a firm commitment to renew hope, strengthen our democratic institutions and build a Nigeria that works for all. We have taken bold steps to stabilize the economy, attract investment and implement reforms that will bring enduring benefits to our country.”

He urged the Church to keep supporting the government and assured that the Tinubu administration would leave no one behind through its social investment programmes.

On his part, the President of the Senate, Senator Godswill Akpabio, urged Nigerians to be patient with the administration of President Bola Tinubu regarding the Reforms initiated by the government, assuring them that they will soon bear the fruits of economic prosperity.

Senator Akpabio made the call in his opening address as the Chairman of the Second Plenary Meeting of the Catholic Bishops Conference of Nigeria.

In a statement yesterday by his Special Assistant to on Media/Communication, Anietie Ekong, Senator Akpabio who asked Nigerians never to be despaired by the current situation that Nigeria was going through but to look forward to a brighter future, said, “Let me seize this opportunity to urge my compatriots to be be patient with your government as we lay again the foundations of this house. Do not despair when the winds blow strong or the scaffolding shakes.

“For a nation is like a mighty cathedral—it is not raised overnight, but stone by stone, prayer by prayer, hand by hand. “They that wait upon the Lord shall renew their strength; they shall mount up with wings as eagles.” (Isaiah 40:31).

“Let us therefore renew hope in the Nigerian enterprise. Let us believe again that our land can be great, that our children can inherit a future brighter than our present. Let us bind the wounds of division, banish the cynicism of despair, and walk together Church and State, pulpit and parliament, faith and policy towards the dawn.

“Transformation is not the burden of one arm of society, nor the privilege of a select few. It is a covenant of partnership. As St. Paul declares: ‘We are co-workers in God’s service; you are God’s field, God’s building.”

Also speaking, the Akwa Ibom State Governor, Pastor Umo Eno, stated that the Catholic Church has played a key role all over the world in fighting injustice, promoting democratic governance, and prioritizing the welfare of the people in its policies.

He said that his administration has invested heavily in lifting people out of poverty, especially the poor and vulnerable persons, and to improve their living conditions. He enumerated several intervention programmes initiated by the government. He called for the continued support of the Church in delivering dividends of democracy to the people.

The conference was attended by the Apostolic Nuncio and the representative of the Pope, Most Rev. Michael Francis Crotty, Catholic Bishops from all over Nigeria, other Catholic faithful, members of the National Assembly, politicians, and worshippers from all parts of the country.

ogelekpomgam:
Wow.. where you there? I was residing in Eni Njoku hostel then and just coming back from my department,the real life, dangerous film movie started happening.From Ziks flat, through Franco hostels going up school areas. It was terrible..

Richie6:
These are one the reasons he's running away from debates, interviews and public media chats.

While Tanko Yakasai was sacked after asking Buhari to resign over the rising insecurity and abductions in the country, checks by TheCable revealed that top APC chieftains, at different times, had asked former President Goodluck Jonathan to give up his office over failure to address security issues.

Aside from Yakasai’s post, there have been various calls for President Muhammadu Buhari to resign, but the presidency has described such comments as foolish.

IN 2015, APC WANTED JONATHAN TO RESIGN OVER ‘INCOMPETENCE’ “President Jonathan, who is also the commander-in-chief of the armed forces, must take responsibility for the monumental cost, whether of his incompetence or his political strategy-gone-awry or both, apologise to the nation and immediately back down from seeking re-election,” Lai Mohammed had said, in a statement he issued as spokesman of the APC at the time.

IN 2014, TINUBU DEMANDED JONATHAN’S RESIGNATION OVER ‘LACK OF CAPACITY’
Bola Tinubu, national leader of the All Progressives Congress (APC) and former governor of Lagos state, had asked Jonathan to resign over “lack of capacity” to tackle the country’s security challenges.
They have exhibited failure, lack of capacity, vision and creativity. The lies of yesterday are what they repeat today and are what they will repeat tomorrow. They are lying to you.They are lying about the security, toying about the security of this country. I don’t have time to explain the logic of their lies.

“But if you control the armed forces and you are the commander-in-chief of the armed forces of the federal republic, why should any part of this country be under occupation? And you give us excuses every day. In any civilised country, Jonathan should have resigned. But if he will not resign, he should wait for our broom. We will sweep him away.”

BUHARI ASKED JONATHAN TO PAVE WAY FOR ‘COMPETENT HANDS’ IN 2013
“Jonathan should vacate and give way to competent hands to govern the country.” According to him, the then-president failed to perform his primary function of securing Nigerians.

IN 2012, EL-RUFAI ASKED JONATHAN TO ‘GO HOME’
“Why is it that only President Jonathan cannot solve Nigeria’s security problem? If he cannot do the job for which he was elected to do, he should consider going home. No president has ever sought the help of ordinary people in tackling security problems in this country,” el-Rufai was quoted to have said.

“The protection of lives and property of the citizens is the basis of any government in power and if the leadership has failed woefully to deploy the resources and information at its disposal to enforce coercive power for the benefit of the society, then it had no reason to stay on.”

gidgiddy:
In 2014, Tinubu publicly told President Goodluck Jonathan to resign over insecurity in the North East with Boko haram

Today, ten years later, Tinubu is now President and there is insecurity not only in the North East, but in the North West, North Central and South East

But Tinubu is giving himself high marks and warming up to seek a second term Isn't life sweet? What an irony.