GROUP FORECASTS $1 TRILLION ECONOMY WITH TINUBU POLICIES

 

Independent Media and Policy Initiative, IIMPI, projected that Nigeria's economy could reach a remarkable milestone of $1 trillion within the next eight years, buoyed by the policy direction of President Bola Tinubu's administration.

This optimistic forecast hinges on the implementation of strategic initiatives, including the Renewed Hope Infrastructure Development Fund (RHIDF), aimed at addressing historical challenges of underfunding capital projects in Nigeria.

Niyi Akinsiju, Chairman of IMPI, emphasized that the Tinubu administration's commitment to partnering with the private sector is pivotal in realizing this ambitious economic goal.

Akinsiju highlighted the administration's clear vision, as articulated by President Tinubu, to elevate Nigeria's economic stature significantly over the coming years.

IMPI's endorsement of this economic projection underscores a favorable assessment of the administration's policy landscape since the announcement of the $1 trillion economic aspiration.

Despite Nigeria's historical economic constraints, characterized by corruption and bureaucratic hurdles, IMPI contends that the administration's policies offer credible pathways towards achieving this target.

According to IMPI, the RHIDF exemplifies the administration's strategic approach to infrastructure development, which is fundamental to driving sustainable economic growth.

Drawing parallels with the United States' Bipartisan Infrastructure Law (BIL), IMPI posits that the RHIDF represents a comprehensive strategy to invest in critical infrastructure, fostering long-term productivity and socioeconomic opportunities across Nigeria.

"The RHIDF, in our consideration, is the outcome of critical thinking, especially from a leadership that understands the place of infrastructure renewal and enhancement in enabling and driving economic growth.

“It compares to the United States of America’s $1.2 trillion Bipartisan Infrastructure Law (BIL) signed into law by President Joe Biden two years ago. Like the BIL, the underlying intendment of the RHIDF is to invest in infrastructure that can strengthen long-term productive capacity while creating opportunities for people in disadvantaged communities," remarked Akinsiju.