Investment banking group, Afrinvest, has called for research-driven reforms to unlock Nigeria’s economic potential beyond the trillion-dollar Gross Domestic Product (GDP) milestone.
The company’s Managing Director, Dr. Ike Chioke, made the call on Tuesday in Lagos during Afrinvest’s 30th anniversary celebration and the unveiling of the 20th edition of its flagship Banking Sector Report (BSR) themed “ACT-BOLD: Beyond a Trillion-Dollar Economy.”
According to the report, seven priority sectors — agriculture, creatives/tourism and hospitality, technology, banking and finance, oil and gas, logistics, and domestic manufacturing — hold the key to repositioning Nigeria as a globally competitive economy.
Chioke noted that Afrinvest’s 30-year journey had been about shaping ideas that influence policy and guiding stakeholders through economic turbulence.
“Our research has consistently shown that Nigeria’s fortunes are inseparable from global tides,” he said. “From the banking reforms of the early 2000s, to the 2008 financial crisis, the 2016 recession, and the COVID-19 pandemic, we have seen that clarity, innovation, and bold action remain the most reliable drivers of recovery and growth.”
He recalled that past editions of the BSR had spotlighted critical economic turning points, including the 2009 banking sector collapse, the 2017 recovery phase titled “Nigeria Reopens for Business,” and the 2022 warning “Brace for Impact,” which foreshadowed subsidy and foreign exchange reforms later implemented by President Bola Tinubu.
“This 20th edition is both a call to action and a framework for Nigeria’s future. If we harness these seven industries strategically, Nigeria can move beyond short-term fixes and position itself as a trillion-dollar-plus economy, just like India and Indonesia have done,” Chioke said.
Also speaking, Afrinvest Chairman, Mr. Godwin Obaseki, represented by Prof. Osita Ogbu, described the company’s three-decade journey as one defined by resilience, innovation, and transformative impact in Nigeria’s financial markets.
He highlighted Afrinvest’s role in landmark transactions such as the UBA-Standard Trust Bank merger (2004), GTBank’s €350 million Eurobond issuance (2007), and Dangote Cement’s ₦2.1 trillion listing (2010) — the largest in the history of the Nigerian Exchange.
“Our legacy is not just in numbers but in impact,” he said. “We have supported governments, facilitated investments that built infrastructure, and contributed to the growth of international markets. With courage, clarity, and creativity, Afrinvest is ready for the next chapter, confident that together, we can go beyond limits.”
The event attracted policymakers, regulators, and industry leaders, who commended Afrinvest for its consistency in providing thought leadership and research-driven solutions to Nigeria’s economic challenges.
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