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The Nigerian Economic Summit Group (NESG) has called for a “second wave” of structural reforms to prevent the economy from slipping back into crisis, warning that recent gains from government policy could be short-lived without decisive follow-through.

At a press briefing on Tuesday ahead of the 31st Nigerian Economic Summit (NES#31) scheduled for October 6–8 in Abuja, NESG leaders said Nigeria has seen modest improvements since the start of the year — including a more stable fiscal position and signs of renewed investor interest.

But, they cautioned, inflation remains stubborn, growth is fragile, and confidence in the naira is far from restored.

“Macro indicators are improving, but momentum is not the same thing as sustainability,” said NESG Chief Executive Officer Laoye Jaiyeola.

“We need to pursue reforms that go beyond short-term fixes and address structural bottlenecks if we are to achieve inclusive prosperity by 2030.

”Themed “Agenda 2030: Pathways for Inclusive Prosperity,” the summit will bring together government ministers, corporate leaders, civil society, and international investors.

Organisers said policy discussions would focus on power sector reforms, energy pricing, tax transparency, and digital transformation.

Analysts note that the government has already taken politically sensitive steps in 2025, including currency devaluation and the partial removal of fuel subsidies.

But the private sector is pressing for broader changes in public finance management, governance, and regulatory predictability.

International partners are also watching closely. Foreign investors have welcomed Abuja’s rhetoric on reforms but remain cautious, with inflows lagging behind regional peers such as South Africa and Kenya.

The NESG warned that failure to push through a deeper reform package could leave Nigeria vulnerable to external shocks, particularly fluctuations in oil revenue and global financial markets.Outlook:

With the summit only weeks away, attention will be on whether President Bola Tinubu will use the platform to announce a clear roadmap into 2026. Stakeholders say the credibility of Nigeria’s reform agenda may hinge on what is unveiled in October.

Nigeria’s financial markets are bracing for what could be the first policy easing of the year, as traders and issuers bet the Central Bank of Nigeria (CBN) may lower its key interest rate in September.

After holding the Monetary Policy Rate (MPR) steady at 27.5% in July, the CBN’s minutes showed a more cautious tone, but analysts at several investment firms say a cut is now “increasingly likely.” Rising market speculation has already caused several corporates to delay planned bond issuances, preferring to wait for potentially lower borrowing costs.

“Businesses are reluctant to lock in at today’s high yields when there’s a strong chance of cheaper financing around the corner,” said a Lagos-based investment banker, speaking on condition of anonymity.

While headline inflation remains above target, analysts argue that a combination of stabilising FX reserves, a firmer naira, and easing food-price pressures give the CBN space to consider a rate cut.

Market watchers say a 25–50 basis point reduction is the most probable outcome if September’s inflation report shows continued moderation.

The implications could be far-reaching: Banks would see cheaper funding costs but slimmer margins.

Corporates could access bond markets more affordably.

Households might benefit from lower lending rates, though gains could be slow to filter through.

“The real test is whether easing policy now can support growth without reigniting inflation,” said economist Tola Oni, noting that Nigeria’s GDP expansion has been uneven in 2025.Outlook: All eyes are now on the August inflation data, due in early September. If the CBN does cut rates, it would mark the first signal of a looser monetary stance under Governor Olayemi Cardoso since his hawkish tightening cycle began late last year.