A new report by the African Development Bank says Nigeria can achieve long-term growth and become a trillion-dollar economy if it uses its financial, human, and natural resources more effectively through better governance, investment, and planning.
A statement by AfDB on Saturday said this was the central message of the 2025 Nigeria Country Focus Report, unveiled on Thursday in Abuja.
Titled, “Making Nigeria’s Capital Work Better for Its Development.”
The CFR outlines bold policy recommendations designed to help Nigeria close its $31.5 billion annual financing gap and accelerate economic transformation.
Speaking at the unveiling, AfDB’s Country Manager for Nigeria, Lamin Barrow, said, “Nigeria’s capital, its money, its people, and its natural resources can and must work harder and smarter for national development. This report offers a roadmap to unlock that potential through fiscal reforms, governance improvements, and innovative financing.”
On human capital, the report painted a grim picture: Nigeria scores just 36 per cent on the Human Capital Index, well below the Sub-Saharan average.
“Underinvestment in health and education is limiting productivity.
