Expert says reforms could boost Nigeria’s GDP to 4 percent
Dr Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprises, believes Nigeria could reach higher GDP growth if ongoing economic reforms are maintained. He emphasized that realistic budget assumptions and tackling productivity obstacles are essential for this progress. Muda Yusuf also warned that risks like oil price volatility and regulatory challenges could undermine these efforts. He highlighted the importance of supporting job-creating sectors and improving the investment climate.
TLDR
- Muda Yusuf stated that Nigeria could achieve 4–4.5% GDP growth in 2026 if reforms continue and budget assumptions become more realistic.
- He warned that oil price volatility, geopolitical tensions, and security issues are significant risks to economic growth.
- Muda Yusuf stressed that strong GDP numbers alone do not guarantee job creation or improved welfare; investment and productivity are key.
- He identified agriculture, construction, trade, ICT, entertainment, and tourism as sectors with high employment potential if properly supported.
- Regulatory and public sector reforms are needed to create a better environment for private enterprise and attract investment.
