APC Sets Ambitious $1 Trillion Economy Goal for 2027, Vows No Retreat

Ahead of the 2027 general election, Professor Nentawe Yilwatda, the National Chairman of the All Progressives Congress (APC), affirmed that Nigeria must forge ahead, consolidating and building upon the reforms initiated by President Bola Tinubu's administration. Yilwatda cautioned Nigerians against promises to reverse these critical reforms, particularly those that ignore the fundamental structural problems currently facing the nation. He emphasized the APC's commitment to progress, productivity, investment, infrastructure, innovation, Nigerian enterprise, exports, human capital, and President Tinubu's ambitious goal of achieving a $1 trillion economy by 2030 for the nation's collective prosperity.

Speaking at the second edition of the Policy Roundtable of the APC Professionals Forum, dubbed the Asiwaju Scorecard Series in Abuja, Yilwatda elaborated on the $1 trillion economy vision. He clarified that this target is not merely a numerical aspiration but a comprehensive national mission aimed at fostering increased domestic production, higher export volumes, greater foreign and local investment, substantial job creation, and providing Nigeria's youth with a more significant stake in the future. He stressed that foundational infrastructure is indispensable for realizing such an economic ambition, which is why the Renewed Hope Agenda places considerable emphasis on developing strategic highways, railways, ports, energy infrastructure, and digital connectivity, urging a holistic approach beyond individual projects.

Yilwatda, representing President Tinubu at the event, highlighted the challenging economic inheritance the current administration faced in 2023, including distortions from fuel subsidies, multiple exchange-rate windows, weak revenue mobilization, and foreign-exchange shortages. He asserted that President Tinubu recognized the unsustainability of the previous trajectory and thus undertook difficult but necessary decisions, such as the removal of the fuel subsidy and the reform of the foreign-exchange market.

Evidence, according to Yilwatda, increasingly points to a strengthening economic foundation. Nigeria’s gross external reserves have reportedly risen to approximately $52.7 billion by August 2026. Consolidated non-oil revenue saw a significant increase from about ₦13.63 trillion in 2023 to ₦16.4 trillion in the first two quarters of 2026, showcasing a growing contribution from non-oil sectors to government revenue. Furthermore, the nation’s trade position has dramatically improved, transitioning from a merchandise trade surplus of only about ₦44.8 billion for the entirety of 2023 to approximately ₦7.54 trillion in the first quarter of 2026 alone. Real GDP grew by 4.43 percent in Q2 2026, and inflation has notably declined from its previous peak to approximately 15.4 percent. While acknowledging that economic challenges persist, Yilwatda affirmed that these figures demonstrate a positive shift in direction, emphasizing that macroeconomic stability is a crucial foundation, not the ultimate destination. The true test, he noted, lies in how this stability translates into tangible benefits for Nigerians, such as cheaper food, more jobs, affordable credit, reliable electricity, and enhanced purchasing power.

Looking ahead, the APC national chairman outlined plans for Nigeria to fully leverage its vast maritime opportunities through the development of an integrated five-port maritime and logistics corridor. This strategic ambition involves developing and connecting five major deep-sea ports at Lagos, Ondo, Ibom, Port Harcourt, and Calabar, linking them with modern rail and road infrastructure, with the Lagos-Calabar Coastal Super Highway serving as the primary coastal road backbone. The vision extends inland, with the Western Corridor designed to connect these maritime gateways to the interior via the Lagos–Abuja–Kaduna–Kano rail corridor, supplemented by the Sokoto–Badagry Super Highway, thereby establishing direct trade routes from the Atlantic coast to markets in the Northwest and the Sahel regions.

Yilwatda articulated that Nigeria is now entering the next phase of the Renewed Hope agenda, focused on transforming macroeconomic stability into microeconomic prosperity. This includes ensuring more abundant food, increased job opportunities, lower inflation, accessible credit, reliable power supply, expanded manufacturing capabilities, greater exports, and stronger purchasing power for citizens. He urged the nation to power its industries, cultivate its digital economy, educate its youth, and mobilize private capital to enhance productive capacity. Above all, he called for a paradigm shift in how Nigeria views itself—not merely as a large domestic market, but as a potential maritime, industrial, digital, and logistics powerhouse for Africa. He concluded by stating that the foundation has been laid, the opportunity is present, and the work has commenced, calling on Nigeria to transition from reform to results, from results to growth, from growth to prosperity, and ultimately to a $1 trillion economy by 2030.

In related remarks, Dr. Isa Yuguda, chairman of the Board of Trustees (BOT) of the APC Professional Forum, advised Nigerians to critically evaluate political promises, especially those pertaining to the reinstatement of fuel subsidies ahead of the 2027 election. He specifically addressed former Vice President Atiku Abubakar’s proposal to restore subsidies, cautioning that while it might offer immediate relief, it must be scrutinized against Nigeria’s historical experience. The former Bauchi state governor highlighted that the previous subsidy regime was plagued by massive leakages, fraudulent claims, inefficiency, and significantly drained public finances. Yuguda argued that proposing a return to such a system without addressing these inherent problems risks misleading Nigerians for short-term political gain and could reverse the fiscal space that currently supports vital national investments.

Yuguda asserted that while every Nigerian possesses the democratic right to propose alternative policies, economic choices must be grounded in facts, experience, sustainability, and the long-term national interest. Drawing on his experience chairing the 2009 Fuel Subsidy Task Force, he emphasized the weaknesses of the old system and the benefits of redirecting those resources towards critical sectors like education, security, agriculture, infrastructure, and other areas that directly improve citizens’ lives. He noted that the policy roundtable serves as more than just a political gathering, providing a forum for evidence-based assessment, constructive criticism, and policy dialogue among decision-makers, professionals, and the wider Nigerian populace. The APC Professionals Forum, he added, remains committed to functioning as a credible think tank that connects expertise, ideas, leadership, and the people for Nigeria's progress and prosperity, urging political office holders to utilize the platform to share their achievements and the scorecard of the President and the APC-led administration.