Government reaffirms dedication to achieving a million-trillion dollar economy
The 2025 Ota Investment Summit and Trade Fair, held recently, saw the participation of more than 18 exhibitors, according to a report by the News Agency of Nigeria (NAN). The event, attended by Vice-President Kashim Shettima, was a platform for forging new partnerships and committing to a shared future of prosperity.
The Vice-President, in his speech, described the summit as a significant step towards achieving Nigeria's aspiration of a one trillion dollar economy. He emphasised that this ambition, while audacious, is eminently achievable with a business-friendly environment, fiscal discipline, and the removal of bureaucracy.
The Olota of Ota, Oba Adeyemi Obalanlege, highlighted the success of the Ota Industrial Belt as a product of decades of strategic investment, infrastructure development, and the handiwork of visionary entrepreneurs. He suggested that with proper infrastructural upgrades and sustained investor confidence, Ota could be a driver in achieving Nigeria's trillion-dollar economy.
Obalanlege stated that the Ota Industrial Belt's proximity to global shipping routes, airports, skilled labor, and raw materials contributes to its continued industrial expansion. He mentioned that Ota could boost Nigeria's GDP through increased manufacturing outputs, foreign direct investment inflows, SME expansion, and job creation.
Chairman of Ota Chamber of Commerce, Dr Kayode Bowale, advocated for stronger private-public partnerships for road infrastructure, community development, and industrial growth. He emphasised the importance of patronizing locally-made goods and services to boost the country's development.
The Vice-President's speech also highlighted the diversity of Nigeria's economy, including technology, financial services, and the agricultural value chain. He urged Nigerians to work together with the federal government to build a new industrial revolution.
The theme of the trade fair, "Industrial Revolution: Potential and Opportunities from Ota to the rest of the World," reflects the belief that the success of the Ota Industrial Belt can serve as a model for the rest of the nation. The government of the Federation under President Bola Tinubu aims to implement the plan for one million-dollar economic growth during his administration, which began in 2023.
This article was published by a news agency and has recently published other articles on general news, education, aviation, and human trafficking. It serves as a testament to the ongoing efforts to drive economic growth and development in Nigeria.
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