Nigeria Needs 21. 95% Growth Rate For $1tn Economy By 2031 – Afrinvest

Afrinvest West Africa Limited has predicted that Nigeria’s rebased Gross Domestic Product (GDP) requires a 21.95 per cent maturation complaint astatine an speech complaint of N1,500 per dollar to execute the $1 trillion system people by 2031.

The concern steadfast made this prediction successful its 20th Nigeria Banking Sector Report 2025, titled ‘ACT-BOLD: Beyond a Trillion Dollar Economy’.

Afrinvest explained that astatine rebased GDP nominal size of N372.8 trillion, Nigeria requires a minimum yearly maturation complaint of 21.9 per cent to attain $1 trillion system valuation by 2031.

At the event, which marked Afrinvest’s 30 years of operations, an speech complaint of N1,500/$1 oregon a overmuch stronger speech complaint astatine a slower maturation complaint was predicted to beryllium required to attain the GDP size milestone.

The study pointed retired that contempt the President Bola Tinubu administration’s assurance that the banking manufacture would enactment the $1 trillion system people realisation, determination was a request to code longstanding impediments that constrain broad-based maturation potential.

“Without specified intermediation, banks would lone deliver, astatine best, uneven and subpar maturation crossed a fewer services-based sectors, portion the wide system continues to turn astatine a dilatory pace,” it added.

The study highlighted the relation of monetary argumentation tightening successful achieving subdued ostentation complaint figures, restoring marketplace assurance and stabilising the forex rate.

According to the report, monetary argumentation nether the Olayemi Cardoso-led Central Bank of Nigeria showed successive hikes successful the benchmark complaint by a cumulative of 875 ground points to 27.5 per cent betwixt February 2024 and November 2024, and this, alongside different variables, was near unchanged passim the archetypal fractional of this year.

It showed that the ongoing recapitalisation of the banking manufacture had shown that respective banks initiated oregon completed a superior rise to fortify their buffer.

“As of mid-2025, our estimation suggests that banks person collectively raised implicit N2.5 trillion done rights issues, nationalist offerings and backstage placements,” it noted.

Speaking during the unveiling, the Group managing director, Afrinvest West Africa Limited, Dr Ike Chioke, described the company’s 30 years of operations arsenic a travel of resilience, innovation, and enactment meant to signifier Nigeria’s fiscal markets.

He said the 30-year travel unfolded against a backdrop of shifting planetary and home political, macroeconomic and superior markets realities.

He said the Banking Sector Report, archetypal published successful 2006, remained a trusted compass for policymakers, investors and fiscal institutions navigating the changes successful Nigeria’s economy.

The chairman, Afrinvest West Africa Limited, Donald Lawson, who was represented by Professor of Economics, University of Nigeria, Nsukka and co-chair, Nigerian Economic Summit Group National Advisory Council, Osita Ogbu, said that large institutions were not accidents of past but products of vision, courageousness and the quality to accommodate to changing times.

Lawson said the 30 years of Afrinvest were not simply the communicative of a fiscal instauration but a reflection of a communicative of vision, leadership, resilience and an unwavering committedness to excellence successful instauration building.

“Over the years, we person not lone built markets, evidenced by landmark transactions wrong and beyond Nigeria’s borders; we person built innovative platforms and concern instruments that proceed to redefine entree to opportunities for our clients,” helium added.