The Nigerian Economic Summit Group has called on the federal government to institutionalize ongoing economic reforms and strengthen productive capacity to avoid reversing the country’s current macroeconomic gains, warning that rising debt service obligations continue to heighten concerns over medium term debt sustainability.
In its half year economic and policy review, the group noted that Nigeria’s public debt rose from 144.7 trillion naira in 2024 to 159.3 trillion naira in 2025, reflecting continued reliance on borrowing to finance fiscal deficits, with its debt burden index rising correspondingly and signaling elevated refinancing risk. The group said macroeconomic stabilization, while a necessary foundation, is not sufficient on its own to deliver sustained economic transformation, and that without deliberate efforts to institutionalize reforms and improve governance, recent gains risk proving temporary.
The group outlined an economic transformation roadmap built around four pillars, including macroeconomic stability, strong institutions, structural transformation and social inclusion, recommending that government preserve stability by rebuilding external reserves and strengthening fiscal rules, deepen institutional reforms by improving regulatory quality, and accelerate structural transformation through targeted investment in industrial parks, reliable power supply and digital infrastructure. It also called for expanding strategic infrastructure investment through public private partnerships and promoting inclusive growth by strengthening social protection systems and expanding investment in education and healthcare.
