“We currently have one of the highest currency volatilities in Africa.”
Former Nigerian Bar Association President, Dr. Olisa Agbakoba (SAN), has presented a comprehensive economic reform proposal to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, aimed at unlocking over ₦1.5 quadrillion in economic value within 10 to 15 years, according to PM News reporting.
In a letter dated November 7, 2025, titled “Ideas for a Quadrillion Naira Economy in 10 to 15 Years,” Agbakoba praised the Tinubu administration’s macroeconomic stabilisation efforts but highlighted exchange rate volatility as Nigeria’s “most pressing challenge.” He noted, “We currently have one of the highest currency volatilities in Africa,” adding that the naira depreciated by over 40 percent in 2024 alone.
Agbakoba proposed three key reforms: land and real estate titling, expansion of credit access, and full agricultural mechanisation. He warned that 90 percent of Nigerian land and real estate remain untitled, describing these assets as “dead capital” worth an estimated ₦1.5 quadrillion. He wrote, “Unlocking trapped property assets… will encourage investors who currently prefer to buy properties abroad to buy in Nigeria.”
On agriculture, he compared Nigeria to the U.S., noting low productivity. “Agricultural transformation will provide lasting stability to the naira and shield it from volatility,” he said. Agbakoba stressed that the reforms require ambition paired with execution to achieve sustainable economic growth.