An economic think-tank launched in Port Harcourt aims to combat upcoming economic challenges referred to as ‘Hurricane Trump.’ Led by Silva Opuala-Charles, the think-tank focuses on enhancing competitiveness in the south-south region against Lagos’s GDP dominance. Discussions highlighted the need to prepare for economic disruptions and explore agricultural and technological solutions to strengthen the local economy.
An economic think-tank has commenced operations in Port Harcourt, aiming to address the impending economic turbulence anticipated from a phenomenon dubbed ‘Hurricane Trump.’ Led by Silva Opuala-Charles, an accomplished economist and former finance commissioner, the organization seeks innovative solutions to economic challenges in the south-south region of Nigeria, primarily focusing on enhancing local businesses and competitiveness compared to Lagos.
During the inaugural Garden City Business Breakfast on March 6, 2025, Opuala-Charles highlighted the economic disparities, noting Lagos’s GDP at over $107 billion, while the Niger Delta lags significantly. He emphasized the need for regional leaders to identify factors stymying growth and to strategize for increased competitiveness. He underscored the necessity of getting prepared for upcoming changes or risk severe consequences.
Opuala-Charles also delved into the implications of Trump’s policies on global trade, predicting potential economic disruptions. He articulated concerns over the impact on Nigerian exports due to heightened tariffs and competitive pressures from shale oil production. He warned that regional preparedness is crucial to mitigate adverse effects, particularly in light of inflation and currency fluctuations.
Panelists at the discussion echoed concerns regarding agriculture and technology integration as potential pathways to bolster the Nigerian economy. They proposed sourcing raw materials domestically, enhancing local production capabilities, and utilizing technology to optimize traditional industries like oil and agriculture. They stressed the responsibility of governors to embrace strong business leadership to foster a conducive investment climate.
Experts voiced the critical need for a pragmatic approach to economic policies influenced by global sentiments, specifically referencing rising nationalism in the West. They urged the Nigerian government to engage with Trump’s policies by establishing think-tanks geared toward addressing the nation’s economic vulnerabilities and exploring opportunities in sectors like technology and agriculture.
The session concluded with warnings about the potential repatriation of Nigerian citizens from the U.S. and its ramifications on remittances, urging swift strategic movements to secure Nigeria’s economic future in the face of anticipated global shifts.
The establishment of the Garden City Business Think-Tank in Port Harcourt represents a proactive approach to addressing impending economic challenges associated with ‘Hurricane Trump.’ Led by an experienced economist, this initiative aims to bolster local economic resilience through strategic planning, innovation, and community involvement. Panel discussions underscored the urgency of preparing for potential economic disruptions by focusing on agriculture, technology, and competitive positioning in the global market.
Original Source: businessday.ng
