Adesugba: Nigeria’s $1 Trillion Economy Requires Productive Investment, Policy Accountability
ACCI 1st Deputy President tasks policymakers, private sector and media on collective responsibility for economic transformation
October 20, 2026
The 1st Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), Prof. Adesoji Adesugba, has called for stronger collaboration among government, the private sector, financial institutions, Chambers of Commerce and the media to actualise Nigeria’s ambition of building a $1 trillion economy. He stressed that achieving the target requires productive investment, policy consistency and measurable economic outcomes.
Prof. Adesugba made the call while delivering the keynote address at the 20th anniversary celebration of the Abuja Chapter of the Commerce and Industry Correspondents Association of Nigeria (CICAN) in Abuja on Tuesday. The event, themed “FG’s $1 Trillion Economy: Roles of Policymakers, Stakeholders and Media in Its Actualisation,” brought together stakeholders from the commerce and industry media, government agencies, the organised private sector and other institutions to examine their respective roles in Nigeria’s economic transformation.
The ACCI 1st Deputy President noted that achieving the trillion-dollar ambition would require more than policy announcements and headline targets. He emphasised the need to expand productive capacity, strengthen local enterprises, improve infrastructure, attract responsible investment and develop a skilled workforce. He identified agriculture and agro-processing, manufacturing, mining and mineral processing, digital services, construction, logistics and export-oriented industries as critical sectors for generating economic value, creating jobs and improving Nigeria’s competitiveness.He stressed that agricultural development must extend beyond primary production to integrated value chains supported by mechanisation, irrigation, storage, processing, packaging, certification and improved market access.
He added that industrial growth depends on reliable electricity, affordable financing, efficient logistics, predictable regulations and stronger linkages between large industries and local suppliers.Prof. Adesugba also highlighted macroeconomic instability, insecurity, high operating costs, inadequate access to finance, skills gaps and weak policy coordination as challenges requiring urgent and sustained attention.On investment, he called for policies that attract quality domestic and foreign capital capable of facilitating technology transfer, strengthening local capabilities, expanding supply chains and increasing export potential.
He urged government institutions to improve regulatory transparency, administrative efficiency and investor services while ensuring that economic programmes are effectively implemented, monitored and evaluated against clear performance indicators.
Addressing the role of the media, Prof. Adesugba described specialised commerce and industry journalism as an essential instrument for economic accountability, informed public debate and national development. He urged journalists to move beyond reporting policy announcements to investigate implementation, analyse economic data, explain reforms and assess their implications for businesses and citizens.He also encouraged CICAN to strengthen professional capacity through training in trade policy, public finance, investment analysis, development economics and data journalism.
He recommended economic policy dialogues, business performance tracking and policy implementation scorecards as practical measures for improving the quality and impact of economic reporting.Prof. Adesugba further emphasised the importance of factual accuracy, professional ethics and editorial independence, noting that constructive engagement between journalists and the business community must be built on credible information, mutual respect and a shared commitment to national progress.He described Chambers of Commerce as strategic links between businesses and government, with responsibilities spanning policy advocacy, trade promotion, investment facilitation, enterprise development and business partnerships.
The ACCI 1st Deputy President proposed a practical roadmap for achieving the $1 trillion target, including establishing a credible growth pathway, prioritising productive sectors, reducing the cost of doing business, mobilising investment, accelerating skills and technology development, and strengthening economic accountability.“National economic development is not the exclusive responsibility of government. It is a shared undertaking that requires each institution to fulfil its role with integrity and professionalism,” he stated.Congratulating CICAN on two decades of professional service, he urged the association to deepen its contribution to economic reporting, industrial development and public accountability.
He expressed confidence that informed and responsible journalism would remain vital to sound policymaking and sustainable economic growth.In his welcome address, the CICAN Chairman reflected on the association’s journey since its registration in June 2006, describing its growth from a modest beginning into a professional platform for journalists covering commerce, industry and investment.
He said the anniversary represented a celebration of courage, perseverance and collective commitment, while calling for stronger collaboration among government, industry, the media and development partners.The chairman urged members to uphold professional excellence and ensure that economic reporting illuminates the relationship between policy decisions, investment, employment, industrial production and national prosperity.
The celebration reaffirmed the shared responsibility of all stakeholders to build a productive, diversified, competitive and inclusive Nigerian economy that delivers sustainable improvements in citizens’ living standards.
Olayemi John-Mensah ACCI Media & Strategy Officer.
