Tinubu’s $1trn Economy Target: BOI, NIPSS Partner on Orange Economy Summit, Lai Mohammed Speaks
- Bank of Industry Managing Director Dr Olasupo Olusi committed to partnering with NIPSS on the Orange Economy summit set for October 2026
- NIPSS Director-General Prof. Ayo Omotayo said the summit is tied to President Tinubu's target of growing Nigeria's economy to $1 trillion by 2030
- Former Minister Lai Mohammed explained why Lagos and the National Theatre were selected as the summit's venue
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Lagos, Nigeria - The Bank of Industry (BOI) has agreed to partner with the National Institute for Policy and Strategic Studies (NIPSS) on the upcoming National Summit and Exhibition on Orange Economy, scheduled for October 6 to 8, 2026, at the Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) in Lagos.
BOI Managing Director Dr Olasupo Olusi made the commitment on Monday, August 17, when he received members of the summit's organising committee at the bank's headquarters in Lagos. The delegation was led by NIPSS Director-General Prof. Ayo Omotayo.
Source: UGC
"We don't just want to be a sponsor but partners. We want to play a key role in forming the whole event and all the activities around it," Olusi said.
He added that the bank has a dedicated creative division and described BOI as the most active development institution in Nigeria, financing the creative sector.
"Count on BOI support because of our big influence in the creative sector," he said, encouraging the organisers to also approach other like-minded institutions, noting that the summit ultimately serves national development, economic growth, and job creation.
NIPSS Ties Summit to $1 Trillion Economy Target
Prof. Omotayo told the meeting that the summit forms part of a broader research initiative the institute has been pursuing over four years to map a pathway towards President Bola Tinubu's target of growing Nigeria's economy to $1 trillion by 2030.
He said the president personally approved the Orange Economy as this year's theme of study and has directed NIPSS to begin work immediately. Seven groups of 15 participants each have already conducted field visits to institutions in Abuja, seven Nigerian states, and 14 countries across Africa and beyond.
"Our experts are putting their reports together," Omotayo said, adding that the findings will be delivered to the President in November. The summit, he explained, is meant to build momentum around that research before the report is finalised.
Why Lagos and the National Theatre Were Chosen
Former Minister of Information and Culture Alhaji Lai Mohammed, who serves as Managing Partner of Bruit Costaud, the consulting firm for the summit, explained the choice of venue. He said the National Theatre is the natural home for conversations about Nigeria's creative future, having served as the historic centre of African arts and culture since FESTAC '77.
Mohammed described Lagos as the undisputed creative capital of Nigeria and one of Africa's foremost hubs for music, film, fashion, and digital creativity. He said the Orange Economy, which spans 48 subsectors, is among the most complex and most relevant economies in the world today, with the potential to account for scores of millions of jobs when informal sector numbers are included.
Other committee members who attended the meeting include Prof. Sola Adeyanju, Mr Gabriel Idahosa, Mr Nosakhare Uwadiae, Mr Steve Babaeko, Mrs Olayemi Alaka, and Mr Segun Adeyemi.
Source: Legit.ng
