NESG says Nigeria needs stronger investment to deliver jobs and prosperity

The Nigerian Economic Summit Group has said Nigeria’s present level of investment is insufficient to create the jobs, raise productivity and deliver broad-based prosperity required by its growing population. The private sector-led policy advocacy group made the assessment in a statement issued on Sunday by its Head of Strategic Communication and Advocacy, Ayanyinka Ayanlowo. The statement was released ahead of the 32nd Nigerian Economic Summit, scheduled for October 26 and 27, 2026, in Abuja.

The NESG identified infrastructure deficits, limited access to long-term finance, regulatory uncertainty and high business costs as longstanding constraints on productive investment. It said the challenge had become more urgent as countries compete more intensely for investment capital. According to the group, recent reforms designed to stabilise the macroeconomic environment, improve fiscal sustainability and restore investor confidence were necessary.

However, it said those measures would not be sufficient unless stability was translated into investment that expands businesses, creates jobs, raises incomes and improves living standards. The summit, themed “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity,” will examine ways to mobilise capital for economic expansion and investment in people. Under its “Invest Nigeria” sub-theme, discussions will cover agriculture, manufacturing, infrastructure, technology, energy, mining, logistics and the creative economy.

The NESG said progress would require a better business environment, fewer barriers to enterprise growth, deeper capital markets and stronger policy frameworks for long-term investment. It also highlighted infrastructure financing, public-private partnerships, industrialisation and competitive value chains. The group described micro, small and medium enterprises as central to employment generation and called for improved access to finance, lower regulatory burdens and greater formalisation.

It also urged increased investment in education, healthcare, digital literacy, vocational training and workforce development, saying business investment and human-capital development reinforce each other.