Odebiyi Commends Tinubu’s $1 Trillion Economy Ambition, Says Risk Management Is Key To Success

Former Senator Tolu Odebiyi, CON, has commended President Bola Ahmed Tinubu for pursuing the ambitious vision of building a $1 trillion Nigerian economy, describing effective risk management as a critical instrument for translating the administration’s economic objectives into sustainable national development.

Odebiyi made the remarks while delivering his acceptance speech after receiving the Honorary Fellow Chartered Risk Manager (HFCRM) award from the Chartered Risk Management Institute of Nigeria at the Oriental Hotel, Lagos on the 15th of October, 2026

He praised the President’s economic ambition and initiatives aimed at transforming the Nigerian economy, attracting investment, strengthening institutions, and creating opportunities for sustainable growth.

According to him, achieving the $1 trillion economic target will require not only bold policies and ambitious objectives but also disciplined implementation, sound governance, effective institutions, and a robust framework for identifying and managing risks.

“Risk management must be at the heart of this transformation,” Odebiyi declared, stressing that Nigeria’s economic aspirations would be more achievable if risk management became an integral part of public policy, infrastructure development, financial management, and private-sector investment.

He called on Nigerians to remain focused, supportive, and steadfast in the collective pursuit of the country’s economic transformation, noting that sustained progress would require commitment, accountability, and a shared determination to translate policy objectives into tangible improvements in the lives of citizens.

The former lawmaker observed that effective risk management could play a significant role in protecting public resources, improving project delivery, strengthening investor confidence, reducing waste, and ensuring that investments generate measurable economic returns.

He noted that sectors such as energy, agriculture, manufacturing, mining, technology, financial services, and infrastructure development would be critical to Nigeria’s economic growth, adding that each required a systematic approach to identifying risks, allocating resources efficiently, and building resilience against economic shocks.

Odebiyi emphasised that risk management should not be treated merely as a compliance requirement but as a strategic tool for national development.

“For our $1 trillion economic ambition to become a sustainable reality, risk management must move beyond a compliance requirement and become a strategic instrument of national development,” he said.

He explained that embedding risk management in government budgeting, major capital projects, public-private partnerships, corporate governance, and the management of national assets would help strengthen accountability and improve the value derived from public expenditure.

Odebiyi Reaffirms Commitment to Institutional Development

Reflecting on his contribution to the establishment of the Chartered Risk Management Institute of Nigeria, Odebiyi recalled that, during his tenure in the Senate, he helped initiate the bill that laid the foundation for the Institute’s statutory recognition.

He said his motivation was driven by the conviction that risk management was too important to Nigeria’s development to operate without a proper statutory framework and professional recognition.

The Institute subsequently received its charter under Act No. 39 of 2022, providing a formal institutional foundation for advancing professional risk management in the country.

Odebiyi identified financial, economic, environmental, technological, and institutional risks as major challenges confronting Nigeria, arguing that the country needed professionals with the expertise, integrity, and ethical standards to anticipate and manage increasingly complex threats.

He urged the Institute to consolidate its position as a centre of excellence for risk management in Africa through stronger professional education, research, certification, ethical standards, and collaboration with government and the private sector.

According to him, Nigeria’s economic transformation would benefit from a new generation of risk management professionals capable of supporting sound policy implementation, improving institutional performance, and strengthening the country’s competitiveness in the global economy.

“A Call to Service, Not a Personal Accolade”

Describing the honorary fellowship as a responsibility rather than simply an award, Odebiyi said the recognition reinforced his commitment to nation-building and institutional development.

He expressed appreciation to the Institute’s Chairman, Council members, Fellows, and distinguished guests for the honour, while urging professional institutions to contribute meaningfully to Nigeria’s economic resilience and long-term prosperity.

He concluded that the successful transformation of the Nigerian economy would require collective effort, sustained commitment, and the responsible management of opportunities and risks.

Olusegun Abisoye graduated from the University of Lagos with a Bachelor of Science degree in Mass Communications in 2000. He has since worked in various media companies notably Castles, Success Digest, BusinessDay and Vanguard. He also had a stint with CSS Bookshops Limited. He is currently the ONLINE EDITOR for Independent Newspapers Limited, a role he has held since 2018. He is happily married.

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