National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, on Thursday said President Bola Tinubu’s economic reforms have increased Nigeria’s Gross Domestic Product (GDP) from less than $300 billion to about $375 billion within two years, expressing confidence that the administration remains on course to achieve its target of building a $1 trillion economy.
Speaking at a youth colloquium organised to mark his 58th birthday in Jos, Plateau State, Yilwatda said the administration had taken difficult but necessary decisions that previous governments were unwilling to implement, resulting in renewed investor confidence and improved economic performance.
According to him, reforms including the unification of the foreign exchange market, removal of fuel subsidy, tax reforms, power sector reforms and agricultural policies have repositioned the economy for sustainable growth.
“Nigeria’s economy is now growing faster than the country’s population, while the nation’s GDP has risen from below $300 billion to about $375 billion within two years,” he said.
He also claimed that foreign investor confidence had improved, companies that previously exited Nigeria were returning, exports had overtaken imports, while non-oil exports were recording significant growth.
Yilwatda identified infrastructure development as another key pillar of the administration’s economic agenda, citing ongoing investments in deep seaports, railway corridors, roads, airports and the Lagos-Calabar Coastal Highway.
According to him, the projects are expected to reduce the cost of doing business, enhance regional trade, position Nigeria as the maritime hub of West and Central Africa and stimulate industrial growth.
The APC chairman reaffirmed the ruling party’s commitment to supporting President Tinubu’s economic agenda, describing himself as the administration’s “chief campaigner, chief marketer and chief advertiser.”
He also expressed appreciation to President Tinubu for appointing him Minister of Humanitarian Affairs before later entrusting him with the leadership of the ruling party.
“I remain grateful for the opportunity to serve and to prove myself,” he said.
Delivering a keynote lecture titled, Achieving a Trillion-Dollar Economy in Nigeria: What Needs to Be Done, Prof. Dung Sha described the Federal Government’s target as ambitious but achievable through sustained reforms, coordinated policies and long-term economic planning.
Sha said Nigeria’s GDP currently stands between $291 billion and $375 billion and would require annual growth of between 10 and 12 per cent to attain a $1 trillion economy by the late 2030s.
He urged the country to move beyond focusing solely on its challenges and instead harness its economic potential through strategic planning and structural reforms.
Comparing Nigeria’s economy with those of other African countries, Sha said South Africa’s nominal GDP stands at about $480 billion, Egypt’s at $429 billion, Algeria’s at approximately $378 billion, while Morocco’s stands at about $134 billion.
He described Nigeria’s aspiration as both pioneering and attainable, noting that no African country has yet reached a $1 trillion GDP.
Also speaking, Imo State Governor Hope Uzodimma congratulated Yilwatda on his birthday, describing him as an indefatigable leader whose stewardship has strengthened the APC and inspired confidence in President Tinubu’s administration.
Uzodimma said Yilwatda had disproved the notion that only former governors could successfully serve as national chairman of the ruling party, citing his management of the APC’s simultaneous presidential, governorship and National Assembly primary elections with minimal rancour.
He also said the APC’s membership had grown to more than 15 million, making it the largest political party in Africa, and expressed confidence that Yilwatda would lead the party to secure President Tinubu’s re-election in 2027.
As part of activities marking his birthday, Yilwatda announced a three-week medical outreach in Kaduna State to provide free healthcare services to vulnerable residents. He is also expected to meet with traditional rulers and community leaders and participate in church services.
