The Nigerian Economic Summit Group (NESG) has called on the Federal Government to ensure that ongoing economic reforms translate into productive investment, scalable job creation and improved living standards for Nigerians.
The group said Nigeria had made progress in restoring macroeconomic stability but warned that reforms would have limited impact if they did not lead to stronger businesses, higher productivity and better household incomes. (The Guardian Nigeria)
Speaking in Abuja ahead of the 32nd Nigerian Economic Summit, NESG Chief Executive Officer, Tayo Adeloju, said the country had moved beyond the immediate challenge of stabilisation and needed to focus on converting economic stability into broad-based growth.
He said the next phase should strengthen the link between reform, investment, productivity and job creation.
Rising production costs remain a concern
Adeloju identified high production costs, infrastructure gaps, insecurity and low productivity as major obstacles to stronger economic growth.
He also noted that more than 90 percent of employment in Nigeria remains informal, highlighting the need for policies that can support businesses to expand and create more sustainable jobs. (Punch Newspapers)
The NESG said the country needs to increase investment in productive sectors while making it easier for businesses to operate, expand and employ more workers.
NESG outlines focus for 2026 summit
The 32nd Nigerian Economic Summit, scheduled for October 26 and 27 in Abuja, will be held under the theme “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.” (NESG)
The summit will bring together government officials, business leaders, labour representatives, development partners, academics and civil society organisations to discuss practical ways to improve Nigeria’s economic performance.
Its agenda focuses on productivity, human capital and resilience, with discussions covering job creation, investment, industrialisation, infrastructure, social protection and economic opportunities across states and sectors. (NESG)
The NESG said Nigeria adds an estimated 3.5 million people to its labour force each year, making the creation of productive employment a major priority.
The group said the ultimate measure of economic reform should be whether it creates opportunities for businesses and workers while improving incomes and living standards across the country.
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NESG Urges FG to Turn Economic Reforms into Scalable Jobs
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NESG urges Nigeria to turn economic reforms into productive investment, scalable jobs, higher productivity and shared prosperity amid rising costs.
