IMPI Challenges 2027 Candidates to Target $1trn Economy

The Independent Media and Policy Initiative (IMPI) has challenged presidential candidates in the 2027 elections to commit to growing Nigeria’s economy to $1 trillion by 2031.

The policy group said the target should form the basis of the economic plans of all candidates seeking to govern the country.

In a policy statement signed by its Chairman, Dr Niyi Akinsiju, IMPI described the target as necessary for tackling poverty, attracting foreign investment and creating productive jobs.

The group argued that Nigeria needs to move beyond dependence on crude oil and informal economic activity to achieve sustained growth.

It proposed the activation of deep-water ports, agro-processing corridors in the North and digital technology hubs in southern urban centres.

According to IMPI, these investments could help move more than half of the informal workforce into formal and higher-productivity employment.

The group said a $1 trillion economy would require “deep-water industrialisation” rather than reliance on retail trade and crude oil extraction.

It called for the full activation of Nigeria’s five-port maritime corridors and the development of agro-processing clusters across northern states.

IMPI also proposed stronger investment in urban technology hubs to expand opportunities in the digital economy.

The group linked its projections to recent economic indicators, including Nigeria’s 4.43 per cent real GDP growth in the second quarter of 2026.

The National Bureau of Statistics reported that the figure rose from 3.89 per cent in the first quarter and 4.23 per cent in Q2 2025. ([Premium Times Nigeria][1])

The non-oil sector grew by 4.31 per cent during the quarter and accounted for 95.84 per cent of real GDP. ([Vanguard News][2])

IMPI said the figures showed that recent reforms had created a platform for further economic expansion.

It cited the removal of the fuel subsidy and foreign exchange reforms among the measures it believes have changed the structure of the economy.

The group also pointed to higher external reserves and the rebasing of Nigeria’s economy as factors supporting its $1 trillion projection.

However, IMPI’s claim that these reforms have already laid the foundation for achieving the target represents the group’s policy assessment, rather than an established economic forecast.

The organisation urged opposition candidates to present detailed plans showing how they would finance and implement their economic programmes between 2027 and 2031.

It specifically asked candidates to publish sector-by-sector capital allocation models instead of relying on general campaign promises.

“The national economic debate cannot be won by opposition to hardship alone; a superior vision for prosperity must win it,” IMPI said.

The group also criticised what it described as the focus on personal attacks, ethnic arguments and complaints about economic hardship in political discourse.

It argued that candidates should explain how their proposed policies would generate growth and attract private capital.

“If a presidential candidate claims a faster route to a $1 trillion valuation, he should outline the specific fiscal policies, trade mechanisms and deregulation models,” IMPI said.

The organisation said such plans should also demonstrate how Nigeria would attract the private and foreign capital required to expand the economy.