CIoD says Nigeria needs 28% annual growth to reach $1tn by 2030

The Chartered Institute of Directors Nigeria (CIoD) says Nigeria needs compound annual GDP growth of 28.02% to expand its estimated 2025 nominal GDP of $290.79 billion to $1 trillion by 2030. President Adetunji Oyebanji gave the estimate during his keynote at the 42nd Omolayole Management Lecture in Lagos.

Oyebanji cited power and infrastructure deficits, oil-sector inefficiencies, foreign-exchange volatility and inconsistent policy among the constraints. For companies and investors, the figure underlines how the target depends on sustained investment and productivity growth.

Source: BusinessDay Nigeria