The Nigerian Economic Summit Group (NESG) has raised concerns over persistent unemployment, low productivity and limited economic opportunities affecting millions of Nigerians, saying the country must ensure that ongoing economic reforms deliver tangible benefits to citizens.
The Group made the disclosure ahead of the 32nd Nigerian Economic Summit (NES#32), scheduled to hold on October 26 and 27, 2026, at the Transcorp Hilton Hotel in Abuja.
The summit will be held under the theme, “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.”
The event is expected to bring together policymakers, business leaders, investors, development partners, civil society organisations and young Nigerians to examine how Nigeria can transform economic reforms into broader prosperity.
According to NESG, Nigeria has implemented significant macroeconomic reforms over the past three years in an effort to restore fiscal sustainability and strengthen the foundations of the economy.
However, the organisation said the next major challenge was ensuring that economic growth translated into jobs, improved productivity, stronger household incomes and better living standards.
The Group noted that Nigeria possesses several advantages that could support a major economic transformation.
These include a population of more than 220 million people, abundant natural resources, a large entrepreneurial population and a youthful workforce.
Despite these advantages, NESG said millions of Nigerians continue to experience unemployment, low productivity and inadequate economic opportunities.
The organisation also highlighted the vulnerability of many citizens to economic shocks, particularly in an environment where households and businesses continue to face significant economic pressures.
The concerns reinforce the importance of making economic growth more inclusive and productive.
For Nigeria, increasing headline economic growth without sufficient job creation could limit the impact of reforms on ordinary citizens. The challenge therefore extends beyond stabilising government finances and improving macroeconomic indicators.
NESG’s position suggests that policymakers must focus increasingly on the productive sectors of the economy and create conditions that allow businesses to expand, invest and employ more workers.
Improving productivity will also require stronger infrastructure, reliable energy supply, access to finance, skills development and policies that encourage private-sector investment.
The upcoming NES#32 is expected to provide a platform for stakeholders to examine these issues and develop practical strategies for achieving more inclusive growth.
The focus on jobs, productivity and shared prosperity also places Nigeria’s youthful population at the centre of the economic conversation.
With millions of young Nigerians entering the labour market, expanding employment opportunities will be critical to ensuring that the country’s demographic advantage becomes an economic asset rather than a source of social and economic pressure.
NESG’s intervention comes at a critical point in Nigeria’s economic reform programme. While reforms may help strengthen fiscal and macroeconomic conditions, their long-term success will ultimately be measured by their effect on households, workers and businesses.
The organisation is therefore calling for a stronger connection between economic policy and the everyday realities of Nigerians.
For the country to achieve sustainable and inclusive prosperity, economic expansion must increasingly be accompanied by productive employment, higher incomes, stronger businesses and greater opportunities for citizens.
