By Fidelia Okafor
The Managing Director and Chief Executive Officer of Tangerine General Insurance Company Limited, Mr. Ademayowa Adeduro, has said Nigeria can achieve its target of a $1 trillion economy by 2030 if it prioritizes infrastructure development, invests in agriculture, enhances power supply, and creates enabling environments for youth entrepreneurship and small businesses.
He stated this at the 2025 annual national conference of the Finance and Business Online Publishers Association (FiBOP) held over the weekend in Lagos with the theme “Leveraging Technology Innovations, Tax Reforms and Opportunities in Renewable Energy and Agriculture to Achieve One Trillion Dollar Economy.”
Mr. Adeduro who was a member of the panelists who discussed the theme paper at the conference, stressed that the road to economic transformation requires strategic alignment between policy, innovation, and investment.
He noted that key sectors of the economy must be unlocked and supported to contribute meaningfully to the nation’s gross domestic product (GDP).
“Infrastructure is fundamental,” Adeduro said. “We cannot grow a modern economy without efficient transportation systems, reliable power, and digital connectivity. Roads, railways, ports, and logistics infrastructure are not just enablers — they are economic multipliers. Every naira spent on infrastructure has a ripple effect across other sectors.”
He highlighted ongoing federal projects such as the Lagos-Ibadan rail and the Lekki Deep Sea Port as signs of progress that must be sustained.
The insurance executive also emphasized the untapped potential in Nigeria’s agricultural sector, calling for increased mechanization, irrigation systems, storage infrastructure, and access to finance. “Agriculture remains our largest employer, but it must be transformed from subsistence to structured agribusiness. We need to develop full value chains, from production to processing to export, and integrate technology for better efficiency,” he added.
Power supply, Adeduro said, remains one of the most critical issues to resolve. He argued that no meaningful industrial or technological growth can occur without a stable and affordable energy supply. “Investment in renewable energy, especially in off-grid solutions for rural communities, can stimulate localized economies and support SMEs. A decentralized approach to energy, combined with regulatory reforms, will be a game-changer,” he said.
On the telecommunications and digital innovation front, Adeduro described the sector as one of Nigeria’s most dynamic and transformative. He pointed to fintech, e-commerce, and mobile banking as evidence of how digital infrastructure drives inclusive growth. “Expanding broadband access and supporting local tech startups can position Nigeria as a regional leader in the digital economy,” he noted.
He also highlighted education and youth development as central to Nigeria’s economic ambitions. With over 60% of the population under the age of 30, Mr. Adeduro said human capital investment must go beyond literacy to include digital skills, vocational training, and entrepreneurship. “We must channel the energy of our youth into productive ventures. Entrepreneurship is the future of employment, and SMEs are already contributing nearly half of our GDP,” he said.
While acknowledging ongoing economic challenges, Adeduro expressed optimism that Nigeria’s trillion-dollar goal is achievable with focused leadership, continuity in reforms, and collaboration between the public and private sectors. He urged the government to reduce bureaucratic hurdles, promote transparency, and foster a business-friendly environment that attracts both local and foreign investment.
“Innovation, investment, and inclusion must be the pillars of our economic agenda,” he concluded. “If we get it right in agriculture, power, education, and infrastructure, Nigeria will not just reach the $1 trillion mark — we will become the economic powerhouse of Africa.”
