President Bola Ahmed Tinubu has said increased production, manufacturing and private-sector investment, rather than taxation alone, are key to building a prosperous Nigerian economy.The President made the remarks through the Speaker of the House of Representatives, Tajudeen Abbas, who represented him at the presentation of a book titled Economic Diversification and Structural Transformation in Nigeria:
The Past, The Present, The Future, authored by lawmaker Abdulmumin Jibrin Kofa.Tinubu said government alone could not build a $1 trillion economy by 2030, arguing that wealth is created through businesses that invest, innovate, manufacture and export. He added that his administration was harmonising taxes to eliminate multiple taxation and improve the business environment.He cited external reserves of about $55 billion, non-oil exports exceeding $6 billion and non-oil revenue of ₦16.4 trillion in the first half of 2026 as signs of economic progress.However, former presidential spokesman Reuben Abati cautioned that economic reforms must translate into improved living conditions for ordinary Nigerians, warning that macroeconomic gains should not benefit only a privileged few.
Joseph Akwagiobe is a media contributor from Cross River State, Nigeria, currently based in Abuja. He is a graduate of Microbiology and has earned several professional certifications across diverse fields, reflecting his commitment to continuous learning, professional growth, and excellence.