AIESEC Alumni Nigeria Calls for Economic Acceleration to $1T

AIESEC Alumni Nigeria has warned that Nigeria needs to accelerate its economic growth significantly to reach its goal of a $1 trillion GDP by 2030. This statement was made during the 42nd Omolayole Management Lecture held in Lagos, where Adetunji Oyebanji, President and Chairman of the Governing Council of the Chartered Institute of Directors Nigeria, presented a paper titled “One Trillion Dollar Economy: What It Will Take Nigeria to Achieve the Goal?” Oyebanji noted that Nigeria's nominal GDP was approximately $290.79 billion in 2025 and would require a compound annual growth rate of about 28.02% from 2026 to 2030 to meet the target.

He highlighted that if Nigeria continued on its current trajectory, it would fall short of the goal, projecting GDP outcomes of $223 billion and $173 billion by 2030 under different methods. Oyebanji stressed the need for a fundamental shift in economic strategy, emphasizing investment, infrastructure, and policy consistency to achieve the ambitious growth target.