Tinubu’s $1 Trillion Economic Goal Hinges on Support for Local Industry — Expert Urges Collaboration with Dangote, Ekeh

President Bola Tinubu’s vision to transform Nigeria into a $1 trillion economy by 2030 has been described as bold by economic analyst Mr. Aliyu Gaya, who urges the President to consult seasoned industrialists like Aliko Dangote and Leo Stan Ekeh to realize this goal. Speaking at a public lecture in Kano, Gaya highlighted the importance of local production and food security — themes echoed in Tinubu’s economic blueprint — but insisted these ideas are not novel and require stronger execution than past administrations have shown.

Gaya referenced former President Olusegun Obasanjo’s successful “Buy-Nigeria” policies, which boosted indigenous consumption and production during the early 2000s. Initiatives under Obasanjo encouraged local manufacturing, including airtime cards and computer hardware, with government ministries adopting these solutions. However, Gaya lamented the decline in support for local products in subsequent governments and warned that without continuity and seriousness from Tinubu’s administration, similar efforts may again falter.

Central to Gaya’s appeal is the voice of Aliko Dangote, who has criticized Nigeria’s failure to protect its local industries through favorable policies. Dangote recently called for the reversal of import-heavy government approaches that weaken local manufacturers. Gaya backed this view by citing international examples, such as U.S. bans on foreign acquisitions and tariffs against Chinese imports, all of which aimed at strengthening domestic industries.

Another critical voice Gaya emphasized is Leo Stan Ekeh, founder of Zinox Group. Ekeh believes Nigeria’s path to a $1 trillion economy is possible but impossible under current conditions, particularly unreliable electricity and the harassment of genuine entrepreneurs. He urged stronger governmental protection for indigenous businesses, including enforcement of the “Buy-Nigeria” directive among Ministries, Departments, and Agencies (MDAs), and criticized systemic neglect of homegrown innovations.

To conclude, Gaya urged President Tinubu to act decisively by building a coalition of indigenous business leaders whose enterprises and insights are vital to driving Nigeria’s industrial growth. By institutionalizing support for local production, Nigeria can attract foreign investment, reduce capital flight, and lay the foundation for sustainable economic transformation. The expert warns that ignoring these voices risks stalling the nation’s progress and squandering its industrial potential.

Source: This day