CPPE warns reversing reforms would hurt Nigeria's economy, urges focus on jobs
The Centre for the Promotion of Private Enterprise (CPPE) warned that reversing Nigeria's economic reforms would damage the economy, undermine investor confidence, weaken fiscal stability and destabilise the foreign-exchange market. In a Sunday statement signed by CEO Dr Muda Yusuf and sent to Nairametrics, CPPE urged the government to sustain the reform trajectory while continuously adjusting implementation based on evidence and effects on businesses and households.
The group said the next phase must move from macroeconomic stabilisation to productivity, from higher government revenues to better development outcomes, and from improving macro indicators to tangible gains in jobs, incomes and living standards. CPPE added that reform instruments should be recalibrated as new evidence emerges, especially where policies pressure businesses and households.
The warning comes amid rising debt-service costs: Nairametrics reported N10.61 trillion in additional debt-service between June 2023 and December 2025, about N4.14 trillion more than the N6.47 trillion spent on strategic infrastructure in the same period. Debt servicing accounted for roughly 34.6% of the Federal Government's N30.64 trillion incremental expenditure, with wage adjustments and external debt service each at N9.39 trillion and N9.37 trillion respectively.
While the government defends the reforms as creating fiscal space that prevented a deeper downturn, CPPE's call highlights the need to shift focus toward job creation and improved living standards. What priorities should policymakers balance to ensure reforms translate into real-world gains for Nigerians?