NESG Reports Mixed Outcomes from Nigeria’s Economic Reforms

At the 32nd Nigeria Economic Summit in Abuja, Nigerian Economic Summit Group (NESG) chairman Niyi Yusuf said the country’s three-and-a-half-year-old economic reforms had produced mixed results, with shortcomings outweighing gains. Real GDP grew 4.43% year on year in the second quarter of 2026, headline inflation fell to 14.63% in September, and external reserves reached about $55.1 billion in October, while food inflation remained at 19.59%. Yusuf also cited falling electricity and gas output, high lending rates, portfolio investment dominating foreign inflows, and public debt of N166.79 trillion in June. He said stabilisation creates conditions for progress but does not deliver it, and called for reforms to generate jobs, higher incomes and better living standards.