Prof. Adesoji Adesugba, First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), has urged the Federal Government to prioritise productivity, infrastructure development and long-term investment to achieve its $1 trillion economy target.

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‎Adesugba made the call while delivering the keynote address at the 20th anniversary lecture of the Commerce and Industry Correspondents Association of Nigeria (CICAN) in Abuja.

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‎Speaking on the theme, “From Ambition to Arithmetic: Actualising the Federal Government’s $1 Trillion Economy — The Roles of Policymakers, Stakeholders and the Media,” he said achieving the target would depend more on effective policy implementation than government announcements.

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‎He acknowledged improvements in Nigeria’s macroeconomic indicators, citing real GDP growth of 4.43 per cent in the second quarter of 2026, a decline in headline inflation to 14.63 per cent in September and foreign reserves of $55.25 billion.

However, he warned that these gains had yet to translate into sufficient investment, industrial expansion and improved living standards.

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‎Adesugba noted that foreign direct investment remained weak despite an increase in capital importation to $10.37 billion in the first quarter of 2026.

He said foreign direct investment accounted for only $135.08 million, or 1.3 per cent of total inflows, highlighting the need to attract more long-term capital into manufacturing, agriculture, mining and other productive sectors.

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‎He also identified inadequate electricity supply, weak industrial growth, insecurity, poor logistics and persistent poverty as major obstacles to achieving the economic target.

According to him, Nigeria’s average available grid capacity stood at 4,758 megawatts in August 2026, despite an installed capacity of 13,625 megawatts, a shortfall he said continued to constrain business productivity.

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‎The ACCI official urged policymakers to ensure policy continuity, strengthen fiscal and monetary coordination, improve electricity supply, implement tax reforms fairly and promote investment in economic zones.

He also called for increased support for agriculture, manufacturing, technical education and research commercialisation, stressing that economic growth must create jobs and reduce poverty.

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‎Adesugba further tasked the organised private sector, financial institutions, labour unions, academia and citizens with supporting the drive through productive investment, access to long-term credit, skills development, evidence-based advocacy and accountability.

He urged the media to explain economic policies in accessible language, verify official claims, investigate revenue leakages and track progress towards the $1 trillion target.

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‎He proposed that CICAN establish a quarterly $1 trillion economy tracker to monitor indicators such as GDP growth, foreign direct investment, electricity supply, inflation, manufacturing output, employment and poverty.

Adesugba also called for stronger protection of journalists, timely access to public data and improved remuneration for media workers, maintaining that Nigeria’s economic ambition would require sustained reforms, productive investment and credible public accountability.