Adesugba Urges 10% FDI Increase for Nigeria's $1 Trillion Goal

Prof. Adesoji Adesugba, the First Deputy President of the Abuja Chamber of Commerce and Industry, stated that Nigeria needs to raise foreign direct investment (FDI) to more than 10% of total capital inflows and enhance electricity supply to achieve its goal of a $1 trillion economy by 2030. Speaking at the 20th anniversary conference of the Commerce and Industry Correspondents Association of Nigeria in Abuja, he noted that Nigeria's nominal Gross Domestic Product (GDP) was estimated at $285 billion to $291 billion in 2025.

To reach the $1 trillion mark by 2030, the economy must grow by about 20% annually in dollar terms. Adesugba indicated that if real growth continues at 4 to 4.5%, the economy could reach approximately $450 billion by 2030, with the $1 trillion target potentially being met around 2040.

He emphasized the need for improvements in electricity supply, as the country had an installed generation capacity of 13,625 megawatts but only about 4,758 megawatts were available as of February 2026. He called for more long-term investments in various sectors, including manufacturing and agriculture.