The Bank of Industry BOI has emphasized that Nigeria must enhance its production capacity to achieve a one trillion-dollar economy by 2026.

The Divisional Head of Services, BOI, Isa Omagu, stated this on at the 2024 annual conference of the Finance Correspondents Association of Nigeria in Lagos with the theme, “Nigeria’s Journey Towards a $1 trillion Economy: Impact of Banks’ Re-capitalisation, Opportunities for Fintechs and Real Sector”.

Omagu noted that the country’s economy relied heavily on fiscal and monetary policies, urging collaboration between both sides.

He also said that Nigeria’s current production levels were insufficient, warning against overreliance on imports if the country aims to achieve economic robustness.