Abuja Chamber's Adesugba Sets Economic Milestones for 2030

Adesoji Adesugba, the First Deputy President of the Abuja Chamber of Commerce and Industry, called on the Federal Government to establish measurable economic milestones to support Nigeria's ambition of achieving a $1 trillion economy by 2030. Speaking at the 20th anniversary lecture of the Commerce and Industry Correspondents Association of Nigeria, he proposed interim targets including a $500 billion economy, sustained growth of at least 6 percent, foreign direct investment exceeding 10 percent of capital inflows, and reliable electricity supply of at least 8,000 megawatts.

Adesugba warned that without substantial improvements in electricity supply and productive investment, the trillion-dollar target could become merely a political slogan. He highlighted the current average grid power of 4,758 megawatts as inadequate for industrial expansion.

He emphasized the importance of a public dashboard to track progress against these targets, stating that credible national goals require transparent measurement and regular reporting.