Abuja: Nigeria stands on the cusp of significant economic development in 2025, according to an economic expert who cites the current administration’s leadership as a catalyst for change. Dr. Alim Abubakre, Founder of TEXEM, UK, and a senior lecturer at Sheffield Business School, shared his insights with the News Agency of Nigeria (NAN), emphasizing the potential for a new economic renaissance under President Bola Tinubu’s guidance.
According to News Agency of Nigeria, Abubakre highlighted several measures initiated by President Tinubu that signal an upward trajectory for the nation’s economy. He stressed the importance of visionary leadership at all levels to fully realize the administration’s Renewed Hope Agenda, which aims to transform the nation’s economic landscape.
Abubakre outlined key steps necessary to sustain the agenda’s momentum, noting Nigeria’s abundant resources, youthful population, and strategic position in Africa as critical components for success. He emphasized the need for systematic efforts to address insecurity, modernize infrastructure, and combat corruption to foster trust in institutions and harness national talents for progress.
Furthermore, Abubakre advocated for the localization of global best practices to attract foreign direct investment, improve infrastructure, and enhance security. He pointed to the experiences of countries like Rwanda, Colombia, India, and Indonesia as models for Nigeria to adapt while considering its unique challenges.
He argued that diversifying the economy beyond oil, promoting youth entrepreneurship, and modernizing infrastructure are crucial to creating economic stability and reducing poverty. Additionally, he called for transparency in governance and strengthening human capital to boost Nigeria’s competitiveness in the global knowledge economy.
Abubakre concluded by asserting that Nigeria, under empathetic and accountable leadership, can overcome historical constraints and emerge as a positive influence across Africa and beyond. He posited that strategic leadership could convert the nation’s challenges into a legacy of shared prosperity.