- Vice President Kashim Shettima and economic experts have warned that Nigeria’s goal to achieve a $1 trillion economy by 2030 remains unattainable without strict regulatory compliance and strong institutional integrity.
- Speaking at the National Corporate Governance Summit in Lagos, Shettima stressed that macroeconomic policy shifts alone cannot drive long-term growth unless backed by transparent legal enforcement and contract reliability.
- Economic analysts emphasized that attracting necessary private sector investments requires curbing insider abuse, policy inconsistency, and systemic corruption that currently increase investor risk.
Vice President Kashim Shettima has highlighted institutional integrity and strict corporate governance as essential prerequisites for Nigeria’s push to build a $1 trillion economy by 2030.
Eko Hot Blog reports that speaking at the National Corporate Governance Summit in Lagos, Shettima warned that economic expansion cannot be sustained on weak regulatory enforcement or ethical laxity.
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While macroeconomic measures like fuel subsidy removal and exchange-rate unification lay foundational groundwork, key stakeholders note that wealth creation depends on private enterprise confidence, clear regulatory frameworks, and transparent governance.
Industry experts, including Uto Ukpanah, President of the Institute of Chartered Secretaries and Administrators, and Urum Eke, Chairman of the IoD Centre for Corporate Governance, emphasized that policy implementation remains Nigeria’s primary hurdle.
Despite existing legal structures like the Companies and Allied Matters Act, institutional deficits and selective enforcement continue to impact investor trust, elevating capital costs across critical sectors.
Analytic projections indicate that achieving the target economy size would require substantial annual GDP growth, a trajectory constrained by persistent infrastructural challenges in power and logistics, as well as systemic corruption risks.
Business leaders maintain that to attract the long-term private capital required for industrialization, the government must prioritize institutional accountability and policy consistency over high-level targets.
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