Speaking at the launch of the Nigerian Economic Summit Group’s (NESG) 2026 Macroeconomic Outlook in Lagos on Thursday, January 15, Edun said the nation had moved past its most challenging period of economic adjustment.
“These outcomes confirm that Nigeria is transitioning from stabilisation to consolidation,” Edun said, emphasising that the focus now is to sustain reform momentum and ensure macroeconomic stability delivers inclusive growth, employment, and improved living standards.
Addressing concerns over Nigeria’s rising public debt, Edun clarified that the country’s debt-to-GDP ratio has declined to 36.1 per cent, among the lowest in Africa and well below global benchmarks.
He attributed the apparent increase in debt to the formal recognition of previously unreported Ways and Means advances, equivalent to around $41.7 billion, and to the revaluation of foreign-currency-denominated debt following exchange rate reforms, approximately $68.3 billion.
Edun highlighted significant improvements in key economic indicators. Inflation, which peaked at 33.18 per cent in 2024, had eased to 14.45 per cent by November 2025. Foreign exchange volatility has moderated, while external reserves strengthened to roughly $45.5 billion, reflecting renewed investor confidence.
NESG Chairman Niyi Yusuf welcomed the stabilisation but cautioned that the reforms represent only the first stage of a longer transformation process.
“While stabilisation is critical, it does not automatically guarantee prosperity, particularly if growth remains uneven and weakly linked to employment and household incomes,” Yusuf said.
He emphasised the importance of consolidating reforms during the post-stabilisation window to prevent economic reversal.
The outlook highlighted the need to rebalance growth towards productive sectors such as agriculture and manufacturing. Strengthening linkages between these sectors could boost manufacturing growth by 6-8 per cent and drive inclusive development.
The 2026 Macroeconomic Outlook, themed “Consolidating Economic Stabilisation Gains: Pathway to Sustainable Growth in Nigeria,” reinforces NESG’s commitment to evidence-based policy advocacy.
By translating stabilisation gains into durable economic transformation, Nigeria aims to move from crisis management to sustainable growth, attracting both domestic and international investors to participate in the country’s emerging economic boom.
