Afrinvest unveils ‘ACT-BOLD’ blueprint to achieve $1trn economy target set by Tinubu’s administration

 By Babs Oyetoro

An Investment banking group, Afrinvest, has expressed great optimism that Nigeria can attain  the one trillion dollar economy projection by the federal government provided the structural reforms are anchored on the positive economy enablers.

Its Managing Director, Dr Ike Chioke, made this disclosure at the company’s 30th anniversary celebration and the unveiling of the 20th edition of its flagship Banking Sector Report (BSR) on Tuesday in Lagos.

The theme of the report is “ACT-BOLD: Beyond a Trillion-Dollar Economy”.

Dr. Chioke opined that the removal of subsidies on petroleum products, Foreing Exchange and partially on electricity has placed Nigeria economy on the right trajectory of growth but noted that the possibility of attaining the set goals by the Bola Tinubu led administration is to channel the available resources into investment in infrastruture and human capital development.

 He averred that these economy enablers would trigger job creation and possibility of job oppotunites for the teaming unemployed youths.

However, the 2025 Banking Repot sector unveiled outlines seven priority sectors, agriculture, creatives/tourism and hospitality, technology, banking & finance, oil and gas, logistics, and domestic manufacturing, as accelerators of growth that can reposition Nigeria as a globally competitive economy.

“If we harness these seven industries strategically, Nigeria can move beyond short-term fixes and position itself as a trillion-dollar-plus economy, just like India and Indonesia have done,” Chioke added.

Chioke observed that the company’ 30-year journey had been about producing ideas that shape policy and guide stakeholders through economic turbulence.

“Our research has consistently shown that Nigeria’s fortunes are inseparable from global tides.

“From the banking reforms of the early 2000s, to the 2008 financial crisis, the 2016 recession, and the COVID-19 pandemic, we have seen that clarity, innovation, and bold action remain the most reliable drivers of recovery and growth,” he stressed.

He noted that past editions of the BSR had spotlighted critical turning points.

He said this includes the 2009 banking sector collapse, the 2017 recovery phase titled “Nigeria Reopens for Business”, and the 2022 warning, “Brace for Impact,” which foreshadowed subsidy and FX reforms later implemented by President Bola Tinubu.

“This 20th edition is both a call to action and a framework for Nigeria’s future.

The event drew policymakers, regulators, and industry leaders, who praised Afrinvest’s consistency in providing research-driven solutions to Nigeria’s economic challenges.

Also, Chairman of Afrinvest, Mr Godwin Obaseki, represented by Prof. Osita Ogbu, a former Minister of National Planning, said the company’s three-decade journey reflected a legacy of resilience, innovation, and transformative impact in Nigeria’s financial markets.

According to him, the company has not only facilitated landmark acquisitions but also built innovative investment instruments that continue to redefine access to opportunities for clients.

He highlighted some of Afrinvest’s landmark transactions to include the UBA and Standard Trust Bank merger in 2004, the 350 million eurobond issued by GTBank in 2007, and Dangote Cement’s N2.1 trillion listing in 2010, the largest in the history of the Nigerian Exchange.

“Our legacy is not just in numbers but in impact. We have supported governments, facilitated investments that built infrastructure, and contributed to the growth of international markets.

“With courage, clarity, and creativity, Afrinvest is ready for the next chapter, confident that together, we can go beyond limits,” the chairman added.