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By Henry Uche
EnterpriseNGR, an advocacy group for Nigeria’s financial and professional services (FPS) sector, unveiled its 2026 Macroeconomic Outlook Report in Lagos yesterday, with a central message that Nigeria is no longer fighting for economic survival but for economic greatness.
Experts at the unveiling noted that after years of painful macroeconomic correction, involving foreign exchange reform, fiscal tightening, financial system restructuring and policy recalibration, the time has come for harder, more consequential phase of scaling the economy, unlocking productivity and translating stability into prosperity.
The report, titled: “Reforms-Led Stability: Boosting Confidence, Unlocking Sustainable Growth,” and released in partnership with EY, noted that the economic foundation is strengthening. Inflation slowed to 15.15 per cent by December 2025, its lowest level in five years, signalling improved monetary discipline and easing price pressures. The foreign exchange market recorded a surge in turnover of more than 56 percent year-on-year, reflecting greater liquidity and transparency. External reserves climbed to $45.5 billion, while nearly $21 billion in foreign investment flowed into Nigeria in the first 10 months of 2025, clear evidence that global capital is cautiously returning.
But Enterprise Nigeria’s warning is that macroeconomic repair alone will not make Nigeria rich.
The advocacy group added that stability is only valuable if it fuels expansion, job creation and rising incomes.
Investor confidence, the report argues, rests on predictability, not promises.
It noted that the gains in capital inflows and FX market confidence must be protected by institutional reforms that outlast political cycles.
It said regulations must be clear, fiscal policy disciplined and monetary decisions shielded from short-term pressures. Credibility, once earned, must be guarded relentlessly.
In her remarks, the Chief Executive Officer of EnterpriseNGR, Obi Ibekwe, noted during her keynote address that the priority for 2026 is to convert these reform gains into sustainable growth and improved welfare.
She emphasised that the FPS sector is uniquely positioned to drive this next phase by managing risk and providing advisory expertise.
However, her position did not sugarcoat the risks, maintaining that without sustained reform discipline, Nigeria could easily slide back into volatility.
She added that without targeted investment, stability could stagnate, just as without inclusive growth, public confidence could erode.
The ultimate test for 2026, she noted, is whether macroeconomic improvements translate into real gains for households, entrepreneurs, and workers.
To support this mission, EnterpriseNGR has advanced several initiatives like the Lagos International Financial Centre (LIFC), in collaboration with the Lagos State Government and supported by technical assistance from the UK Government’s “TheCityUK,” aims to establish Nigeria as Africa’s premier financial hub.
Another is; Youth of Enterprise (YOE) Internship Programme that will address youth unemployment and build a “human capital pipeline.”
The programme has already attracted over 89,000 applications and placed 2,000 talents into industry-leading organizations since its inception in 2022.
Next is the Africa Roundtable of Financial Centres (ARFC).
In May 2025, EnterpriseNGR assumed the chairmanship of this regional body, spearheading collaboration between the financial hubs of Nigeria, Kenya, Rwanda, Morocco and Mauritius.
Diversification remains central to the growth agenda. With non-oil sectors now contributing more than 96 percent of GDP, the report sees Nigeria’s future in services, telecommunications, financial intermediation, trade, and high-value extractives. Strategic minerals such as gold and lithium are identified as potential catalysts for industrialization and foreign direct investment, particularly in technology-linked value chains.
The challenge is to move beyond raw extraction toward processing, refining, and integration into global supply networks.
Commenting, Oyelami Adekola, Director of Policy & Public Affairs at EnterpriseNGR, stressed that the recent gains in capital inflows and investor sentiment were the result of deliberate policy actions and that “credibility matters” for future growth.
Adekola added that the window for economic transformation is open, but it will not stay open forever.
