“Govt Alone Cannot Build A Trillion-Dollar Economy,Wealth Is Created By Enterprises That Invest–BAT

According to a report by The Cable, on Friday, November 13, 2026, President Bola Tinubu has said that the private sector will provide approximately 86 percent of the investment required to grow Nigeria’s economy to $1 trillion by 2030, stressing that private enterprises will play a major role in achieving the country’s economic growth target.

The president explained that his administration would focus on creating an enabling environment that would allow businesses to expand their operations, increase domestic production, manufacture goods and export products to international markets.

He maintained that achieving the $1 trillion economic target would require significant participation from private investors, while the government would concentrate on providing the necessary conditions for businesses to thrive.

Tinubu said the administration was committed to promoting economic activities that would strengthen local industries, encourage investment and increase Nigeria’s export capacity.

According to him, private businesses remain central to wealth creation because they have the capacity to invest in productive activities, introduce innovations, manufacture goods and explore opportunities in international markets.

He noted that the government’s responsibility was to establish an environment where these activities could take place and contribute to the country’s economic development.

Tinubu, who was represented by the Speaker of the House of Representatives, Tajudeen Abbas, made the remarks in Abuja on Thursday during the presentation of a book.

The president used the occasion to explain the government’s approach to achieving the economic ambition of building a $1 trillion economy by 2030.

He emphasised the importance of private sector participation in the country’s development plans, noting that the government alone could not provide all the investment required to achieve the target.

His remarks highlighted the administration’s intention to rely significantly on private capital and enterprise to support economic expansion.

Abbas represented the president at the event, where Tinubu’s position on investment, domestic production and exports was communicated to attendees.

The president’s message centred on the need for cooperation between the government and private businesses, particularly in creating opportunities for investment and expanding productive activities across different sectors of the Nigerian economy.

The president said his administration was determined to promote domestic production and exports as part of its efforts to build a $1 trillion economy by 2030.

He explained that creating an enabling business environment would remain a major responsibility of the government, allowing private enterprises to increase production, expand their operations and contribute to economic growth.

Tinubu maintained that businesses needed favourable conditions to invest in productive activities and compete in both local and international markets.

He also stressed the importance of manufacturing and exporting, indicating that the government wanted to encourage businesses to produce more goods locally and increase the country’s presence in international trade.

The administration’s approach places emphasis on strengthening the productive capacity of the economy rather than depending solely on government expenditure.

By encouraging private sector investment, the government intends to support the expansion of businesses and create opportunities for greater economic activity across the country.

Tinubu further explained that wealth creation depends largely on the activities of private enterprises, particularly their willingness to invest, innovate, manufacture and export.

He said these activities were essential to building a productive economy capable of generating wealth and supporting long-term economic growth.

According to the president, private businesses have an important responsibility in driving economic development through investment in different sectors, the introduction of new ideas and the production of goods for domestic consumption and international markets.

He maintained that the government should concentrate on removing obstacles that prevent businesses from operating effectively.

This includes creating an environment where enterprises can expand their operations and pursue investment opportunities.

The president’s position was that economic growth would require businesses to take the lead in productive activities, while government institutions would provide the necessary support through policies and an enabling environment.

He therefore identified private sector investment as a major component of the administration’s plan to achieve the 2030 economic target.

The president’s remarks also underscored the importance of increasing domestic production and expanding exports in Nigeria’s economic development plans.

Promoting local manufacturing is expected to encourage businesses to produce goods within the country, while increased exports would enable Nigerian enterprises to access wider markets.

Tinubu maintained that the government would focus on creating conditions that support these activities, allowing private investors to contribute a substantial share of the capital required for economic expansion.

His administration’s target of growing the economy to $1 trillion by 2030 therefore places significant responsibility on private enterprises to invest in productive sectors and expand their operations.

The president’s position also reflects the government’s intention to establish a working relationship with businesses, recognising their role in investment, innovation, manufacturing and wealth creation.

He stressed that the public sector could not independently achieve the country’s economic ambition without the active participation of private enterprises.

Speaking through the Speaker of the House of Representatives, Tajudeen Abbas, at the book presentation in Abuja on Thursday, Tinubu reiterated that government alone could not provide the investment and economic activities required to build a trillion-dollar economy.

He said the responsibility of the government was to create favourable conditions that would enable businesses to invest, develop new ideas, manufacture products and export them to international markets.

He said, “Government alone cannot build a trillion-dollar economy. Wealth is created by enterprises that invest, innovate, manufacture and export. Our duty is to clear the path before them.”

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