Abuja: The Chairman of the Nigerian Economic Summit Group (NESG), Mr. Niyi Yusuf, emphasized the necessity for Nigeria to adopt bold and structural reforms to achieve sustainable growth and prosperity. He highlighted this during a discussion at the summit focusing on the theme: ‘The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030’.
According to News Agency of Nigeria, Mr. Yusuf noted that while initiatives such as the removal of fuel subsidies and the harmonisation of foreign exchange rates have contributed to narrowing fiscal deficits and stabilizing the economy, these measures must extend beyond immediate crisis management. He remarked that the reforms initiated in 2023 and 2024 provided temporary relief but are insufficient alone to realize Nigeria’s vision for 2030. A second wave of comprehensive, deliberate, and transformative reforms is essential.
Mr. Yusuf recounted NESG’s historical influence on major policy changes over the last three decades in areas like pensions, telecommunications, agriculture, and energy. These efforts also laid the groundwork for Nigeria’s recovery from the 2016 recession. The summit’s discussions will also cover themes such as advancing inclusion for women, youth, small businesses, and underserved communities; strengthening institutions through governance, policy continuity, and rule of law; and unlocking investment opportunities amid global trade changes and AfCFTA integration.
He stressed that these priorities would be anchored on reforms, resilience, and results. The summit aims to convene policymakers, private sector leaders, development partners, and civil society to develop practical pathways for inclusive growth. Mr. Yusuf warned that Nigeria faces a crucial decision: to either view current reforms as final and risk regression into fragility or to leverage them as the foundation for building a resilient, productive, and globally competitive economy. He urged collective efforts to build a prosperous and inclusive Nigeria by 2030.
Additionally, NESG’s Chief Executive Officer, Dr. Tayo Aduloju, stated that this year’s Nigerian Economic Summit would concentrate on addressing critical reforms necessary for driving inclusive growth. He explained that the summit’s theme reflects Nigeria’s economic realities over the past five years, underscoring that reform is no longer optional but essential. Dr. Aduloju highlighted the importance of expanding investment, government expenditure, and consumption, while achieving a trade surplus to create jobs.
The summit will focus on identifying both reform imperatives and constraints hindering economic growth, such as obstacles to investment, government expenditure, export growth, consumption, and productivity. Dr. Aduloju added that dialogue sessions at the summit would offer opportunities to share practical insights and strategies that could unlock growth, boost competitiveness, and ensure inclusive prosperity for all Nigerians.