By Tony Obiechina, Abuja
The Nigerian Economic Summit Group (NESG) on Thursday officially launched the Nigerian Private Sector Outlook 2026
Titled ‘The Productivity Imperative for Nigerian Businesses’, the report introduces Strategic Agility as a framework for navigating Nigeria’s critical pre-election period while consolidating recent reform gains and accelerating productivity-driven growth.
In his welcome remarks, the Chairman of NESG, Niyi Yusuf, noted that while Nigeria has weathered one of its most challenging economic adjustment periods in recent history, the focus must now shift to consolidation to sustain progress and avoid policy reversals. He emphasised that economic stabilisation is only the first phase of a broader transformation journey and does not automatically translate into widespread prosperity.
Despite positive macroeconomic signals, including a projected GDP growth of 5.5% in 2026 and improving external reserves, he stressed that the gains remain uneven and must be deepened to deliver tangible impact.
Mr. Yusuf warned that reform fatigue and policy inconsistency pose significant risks, particularly within the next 18 months, which he described as a critical window for translating reforms into measurable outcomes for households and businesses. He called for a deliberate shift toward productive sectors, especially agriculture and manufacturing, highlighting that disciplined and transparent consolidation could unlock manufacturing growth of 6–8% through stronger sectoral linkages. He urged stakeholders across the public and private sectors to remain committed to a clear and coordinated reform roadmap that drives inclusive and sustainable growth.
Delivering the keynote address, the Honourable Minister for Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, stated that while the initial phase of reforms required significant political will, the next phase will demand discipline, focus, and effective execution. He noted that Nigeria has entered a critical stage of stabilisation following difficult but necessary structural adjustments. According to him, achieving sustained and inclusive growth will depend on aligning policy intent with implementation, as well as strengthening collaboration between government and the private sector to build trust and unlock long-term prosperity.
In his special remarks, Dr. Abdul B. Kamara, Director General of the Nigeria Country Department at the African Development Bank Group, underscored the urgency of consolidating recent reforms to ensure they become a durable foundation for long-term growth. He noted that while reforms have created a window of opportunity, sustaining these gains will require policy consistency, strong institutions, and effective partnerships. He further emphasised that stabilisation must translate into improved livelihoods, reaffirming AfDB’s commitment to supporting Nigeria through strategic collaboration focused on job creation and inclusive economic development.
Delivering the keynote presentation, NESG Chief Economist and Director of Research, Dr. Olusegun Omisakin, highlighted the importance of forward-looking strategies that enable both businesses and policymakers to transition from defensive adaptation to sustained growth, competitiveness, and resilience.
Conclusion
The launch of the Nigerian Private Sector Outlook 2026 by the Nigerian Economic Summit Group marks a critical step in shaping Nigeria’s economic discourse and guiding action during a pivotal pre-election period. The report provides a clear, evidence-based framework for transitioning from stabilisation to consolidation, with a strong focus on productivity, competitiveness, and private sector-led growth.
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By introducing the concept of Strategic Agility, the Outlook equips policymakers, business leaders, and stakeholders with practical insights to navigate emerging risks, sustain reform momentum, and unlock new opportunities for inclusive and sustainable development. NESG remains committed to driving impactful dialogue and advancing policy solutions that translate reform gains into tangible outcomes for businesses and households across Nigeria.
