By Our Correspondent
National News – Economic stakeholders in Nigeria have urged the Federal Government to maintain consistent and predictable economic policies to strengthen investor confidence and support sustainable growth.
The call was made on March 29, 2026, in Lagos during the public presentation of WorldStage Nigeria’s Macroeconomic Outlook 2026 report titled “Turning the Corner.”
The stakeholders, including leaders from the private sector and government representatives, stressed that policy stability, fiscal clarity, and disciplined reforms are essential for Nigeria to achieve long-term prosperity.
Speaking at the event, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Engr. Jani Ibrahim, explained why policy consistency is crucial for economic transformation.
Represented by Dr. Abina Praise, he noted that Nigeria is currently at a critical transition stage from economic reform to measurable results.
According to him, recent reforms such as exchange rate liberalisation and subsidy removal have begun to stabilise economic indicators, but stronger implementation is needed to translate stability into prosperity.
He added that Nigeria’s economy is projected to grow between 4 and 5 percent, while inflation remains high at about 15 percent, placing pressure on households.
Ibrahim emphasised that clear government direction on tax policies, exchange rate management, and fiscal planning will determine whether reforms deliver sustainable economic progress.
Addressing what must change, Ibrahim said Nigeria must shift from a consumption-driven economy to a production-led model.
Although the non-oil sector contributes more than 97 percent of the country’s GDP, productivity in manufacturing remains relatively low.
He stressed that industrialisation, value addition, and export competitiveness are necessary to close this structural gap.
He also highlighted infrastructure development, food security, and access to affordable finance as key drivers of growth.
According to him, improving these sectors will help create a stronger environment for businesses while protecting private investments.
Reviewing the report, Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, described the macroeconomic outlook as a balanced and realistic analysis of Nigeria’s economy.
Represented by Temilade Aruya, he said the report predicts GDP growth of about 4.49 percent in 2026 and inflation easing to roughly 12.94 percent, offering cautious optimism despite ongoing challenges such as infrastructure deficits, high borrowing costs, and global economic uncertainties.
The event concluded with stakeholders agreeing that consistent policy implementation, disciplined reforms, and inclusive economic planning are necessary for Nigeria to achieve its ambition of building a $1 trillion economy by 2030.
