The Garden City Business Think-Tank has been launched in Port Harcourt to address economic challenges posed by global shifts, particularly related to Trump’s policies. Led by Professor Silva Opuala-Charles, the initiative aims to promote strategic economic development in the South-South region, emphasizing local resource utilization and agricultural investment to enhance competitiveness.
An economic think-tank has recently been established in Port Harcourt, the capital of South-South Nigeria, to address impending economic challenges known as “Hurricane Trump.” Led by Professor Silva Opuala-Charles, an experienced economist and former finance commissioner in Bayelsa, this initiative aims to explore innovative strategies to strengthen the region’s economic standing.
During the inaugural Garden City Business Breakfast on March 6, 2025, Professor Opuala-Charles expressed deep concern regarding the stark economic disparities between Lagos and the Niger Delta. Lagos boasts a GDP exceeding $107 billion, whereas the South-South significantly lags. He emphasized the need for regional leadership to identify obstacles hindering growth and devise competitive strategies relative to Lagos.
He cautioned that without adequate preparation for upcoming changes in the global economy, the Niger Delta risks being severely impacted. The discussion highlighted the significant shifts anticipated in trade dynamics due to Trumpism, including potential declines in GDP and increases in living costs, prompting a call for strategic readiness within the region.
Professor Opuala-Charles warned that changes in U.S. trade policies could severely disrupt Nigeria’s economy, particularly through implications for oil exports and domestic economic stability. He urged regional leaders to utilize current opportunities and identify critical factors influencing global trade to safeguard against economic instability.
The panel comprised experts who articulated that agriculture, particularly fish farming and local processing of crude oil, could be pivotal for Nigeria’s economic resilience. They highlighted the necessity for Nigeria to adopt new technologies and maximize its natural resources efficiently.
The discussions expanded on the idea of forming local think-tanks to foster investment and collaboration among state leaders and business professionals. Emphasis was placed on nurturing an innovative environment conducive to economic growth while leveraging geopolitical shifts to Nigeria’s advantage.
Participants further stressed the need for the government to engage with local and international stakeholders strategically, emphasizing the importance of establishing a robust economic framework that prioritizes local production and minimizes reliance on imported goods.
The potential effects of the Trump administration’s policies on Nigeria were copiously discussed, including heightened nationalism and reduced international aid. Consequently, experts urged immediate action to mitigate anticipated economic pressures, forecasting challenging times ahead.
Professor Lezaasi L. Torbira reiterated the urgency of reinforcing agriculture as a backbone of Nigeria’s economic recovery, advocating for comprehensive state-level policies that enhance agricultural investment and resource utilization.
The assembly culminated in the establishment of a collaborative action plan, aimed at addressing the forthcoming challenges, with the ultimate goal of reinforcing the region’s economic viability and positioning it for global participation. Regional governors were encouraged to prioritize economic development through concerted efforts, equipping themselves with competent advisers and business partners.
In conclusion, the emergence of this think-tank represents a proactive approach to navigating potential economic turmoil instigated by global events and policies. The insights provided during discussions underscore the necessity for collective action and strategic planning to ensure the South-South and Nigeria at large remain resilient in the face of inevitable change.
The establishment of the Garden City Business Think-Tank in Port Harcourt signifies a concerted effort to prepare for economic upheaval linked to global shifts from Trumpism. With a strong focus on agriculture and leveraging local resources, the initiative aims to enhance the region’s economic competitiveness. Key stakeholders emphasized the importance of strategic planning and collaboration to mitigate risks and capitalize on opportunities amidst impending economic challenges. Ultimately, cohesive and innovative leadership will be essential for the South-South’s long-term resilience and prosperity.
Original Source: businessday.ng
