By: Yetunde Aiyedogbon
The 32nd Nigerian Economic Summit (NES #32) opened in Abuja on Monday, bringing policymakers, business leaders and other stakeholders together to discuss how Nigeria can translate economic reforms into jobs, higher productivity and improved living standards.
The two-day summit, holding from October 26 to 27 at the Transcorp Hilton Hotel, Abuja, also offers virtual participation. It is organised by the Nigerian Economic Summit Group (NESG) under the theme, “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity”.
The summit comes as Nigeria seeks to move beyond economic stabilisation towards growth that creates employment, raises incomes and spreads economic opportunities across the country.
According to the NESG, reforms including fuel subsidy removal, exchange-rate unification and banking sector recapitalisation have begun reshaping the economy. However, the group says the next challenge is ensuring that these measures translate into tangible benefits for households and businesses.
Nigeria’s recent economic performance provides important context for the discussions. Official figures put real gross domestic product growth at 4.43 per cent year-on-year in the second quarter of 2026, while headline inflation stood at 15.39 per cent in August. The figures underline the importance of examining how economic growth can translate into stronger purchasing power, productive employment and improved living conditions.
Keynote Speakers and Participants
The announced keynote speakers include Abdul Samad Rabiu, founder and executive chairman of BUA Group; Amina J. Mohammed, Deputy Secretary-General of the United Nations; and Prof. Stefan Dercon of the University of Oxford.
NESG Chief Executive Officer, Dr Tayo Aduloju, has said governors, local governments and the judiciary would participate in the summit, reflecting its focus on economic development at both federal and subnational levels.
The discussions are expected to generate policy recommendations on employment, investment, industrial development, infrastructure, workforce skills and poverty reduction.
Five Priorities for Economic Growth
The summit’s programme is organised around five thematic areas: Work Nigeria, Produce Nigeria, Invest Nigeria, Scale Nigeria and Secure Nigeria.
The Work Nigeria track focuses on creating employment opportunities and improving the labour market. Produce Nigeria examines productivity, industrialisation and value addition, while Invest Nigeria addresses investment and the conditions needed to support economic growth.
Scale Nigeria focuses on expanding economic opportunities across states and communities, while Secure Nigeria examines the importance of safety and stability to productive economic activity.
Discussions will also address infrastructure deficits, energy access, digital inclusion, workforce development and the challenges facing businesses, particularly small and medium-sized enterprises.
The objective is to identify practical measures that can improve Nigeria’s competitiveness, attract investment and create more productive employment.
States and Regional Economic Development
One of the summit’s major priorities, Scale Nigeria, focuses on building competitive economies across the country’s states rather than concentrating investment and formal economic activity in a few urban centres.
The NESG argues that state governments need to improve governance, infrastructure and the business environment to attract productive investment. Rather than relying on unsustainable fiscal concessions, states are being encouraged to compete through the quality of their institutions and investment opportunities.
The programme also includes discussions on financing the future of states, with attention to fiscal sustainability, project viability and reforms that could help states attract investment and expand employment.
The approach reflects growing attention to the role of state governments in creating the conditions for businesses to operate, expand production and employ more Nigerians.
Government Position and Accountability
Speaking at a pre-summit press conference, Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, said the summit would provide an opportunity to examine what was working in the economy, identify remaining gaps and develop practical recommendations.
She said some recommendations from previous Nigerian Economic Summits had already been reflected in government policies, while others were being implemented or finalised.
The minister also highlighted work on the National Development Plan 2026-2030 and efforts to strengthen the alignment between development planning and annual budgets.
An important element of NES #32 is the review of commitments made at the 31st Nigerian Economic Summit. The programme includes an accountability presentation examining previous recommendations and their relationship with the National Development Plan 2026-2030.
The review places implementation at the centre of the discussions, raising questions about how policy recommendations are translated into government action and measurable economic outcomes.
The effectiveness of the summit will therefore depend not only on the quality of its deliberations but also on the implementation of agreed recommendations.
As the discussions continue, attention will be on the proposals emerging from the summit and the extent to which they address the challenges facing workers, businesses and households across Nigeria.
Tags: #NigerianEconomicSummit2026 #NESG NES#32 #Nigerian Economy #EconomicGrowth #Job Creation #Productivity #NationalDevelopmentPlan2026-2030
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