Nigeria Has What It Takes. How Do We Convert It Into Value?
BY KOLA ADESINA Nigeria has spent decades talking about its potential. We have the resources, talent, market and entrepreneurial drive. The opportunity before us is to translate these advantages into
Nigeria has long been recognized for its vast potential, boasting abundant natural resources, a youthful population, and a large domestic market. However, transforming this potential into tangible value remains a challenge. The key to unlocking this potential lies in building productive capacity around these advantages, leading to increased economic growth, improved employment, and enhanced earning capacity for the population.
The recent real GDP growth of 4.43 percent in the second quarter of 2026 is a positive indicator, but the focus must now shift towards strengthening the connection between growth, productive capacity, employment, and earning potential. By fostering businesses that produce more efficiently, create valuable products, and expand beyond our borders, Nigeria can convert its potential into value.
A prime example of this is Indorama Eleme, a company leveraging Nigeria's gas resources to establish a major urea fertilizer plant, which has become the country's largest non-oil exporter by value. To achieve this, Nigeria must identify sectors in which it can compete commercially, develop the necessary capabilities, and build businesses around genuine market demand.
The domestic market presents a strong foundation for local production, and by creating efficient, sustainable, and customer-focused enterprises, Nigeria can unlock the true value of its potential.
Brief written by urgent.news from This Day's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
