Yemisi Izuora
The Central Bank of Nigeria (CBN) has said that the path to growth and achieving projected $1 Trillion economy as aspired by the present administration would require careful planning, robust and clear policy direction, dutiful implementation, and averred commitment from stakeholders that would galvanise the various sectors of the economy.
The Apex Bank further declared that building a one trillion-dollar economy is not an easy task.
The Deputy Governor, Corporate Services, of the Bank, Ms. Emem Usoro, while speaking at the Seminar for Finance Correspondents and Business Editors, which began on April 14 to April 16, 2025, in Abuja, revealed that today Nigeria’s economy is valued at approximately $250billion, and said that to build a 1 trillion dollar economy, all hands must be on deck to push with strong ideas to sustain this vision that has very noble capabilities of making our economy develop faster and improve the quality of lives of our citizens.
Usoro, appreciated that the forum is essential to bring to the fore the Bank’s efforts and policy direction, especially as the nation navigates towards building a one trillion-dollar economy.
“It is also expected to elicit views from the vibrant minds here today. I know today’s meeting brings to bear very important stakeholders in the banking industry and financial ecosystem who are well prepared to share very insightful thoughts on the subject matter of this conference.”
She was also excited about various topics germane to the subject matter of discourse at the seminar which have been outlined, including regulatory perspectives, the industry stakeholders’ perspective, and the media stakeholder perspective.
The regulatory perspective she said will present the requirements for the Bank as regulators of the banking system to ponder. In contrast, the industry perspective will highlight the expected actions and operational requirements that would enhance the achievement of this noble goal.
Furthermore, the media perspective is necessary to better communicate the policy actions and implementation strategies to deepen the understanding of this subject matter and the overall impact of the policy initiative.
The Deputy Governor considered the focus of the topics is very germane and would stimulate the attention of the participants of this conference.
She explained that the push for a new paradigm towards the recapitalisation of banks to power a one trillion-dollar economy would no doubt improve the strength and health of the financial system, deepen financial intermediation and promote healthier competition as well as usher in a robust payment architecture that would strengthen our payment system.