WorldStage– The Nigeria Employers’ Consultative Association (NECA) and key stakeholders have resolved that Nigeria’s economic reforms should be assessed by their impact on businesses, households and national competitiveness rather than policy announcements.
This is contained in a communiqué issued at the end of the two-day Nigeria Employers’ Summit 2026 in Abuja by the Chairperson of the Summit Planning Committee, Ms. Victoria Uwadoka.
The fifth edition of the summit, themed “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth,” brought together government officials, private sector leaders, organised labour, development partners, academia and business executives.
Uwadoka said participants reviewed Nigeria’s reform journey and identified practical measures to promote enterprise growth, investment, job creation and inclusive national development.
She said the summit attracted more than 400 participants and provided a platform for discussions on economic reforms, industrial development, sustainability, taxation, regulatory reforms and the business environment.
According to her, participants acknowledged progress made through recent reforms but stressed that effective implementation would determine their success and long-term sustainability.
“The success of reforms will ultimately be measured not by policies or their enactment, but by implementation, execution and the transformation driven by those reforms,” she said.
Uwadoka said stakeholders agreed that reforms must deliver measurable improvements in business competitiveness, household welfare, employment opportunities and sustainable economic growth.
“Reforms must move beyond macroeconomic stabilisation to deliver tangible benefits for businesses, citizens and the Nigerian economy,” she added.
She said the summit reaffirmed NECA’s commitment to evidence-based economic dialogue and pledged to deepen employer engagement and private sector participation in policymaking.
“Our businesses do not grow outside Nigeria. Their success is directly tied to Nigeria’s success, and we must build confidence to attract investment,” she said.
Uwadoka said participants supported key reforms, including fuel subsidy removal, foreign exchange liberalisation, fiscal adjustments and tax reforms, while urging government to improve communication and accountability.
She added that stakeholders called for greater policy predictability, lower inflation and energy costs, affordable financing, prudent public spending and increased investment in power infrastructure.
Participants also advocated increased investment in healthcare, human capital development, implementation of the Nigerian Industrial Policy, support for MSMEs and wider adoption of Environmental, Social and Governance (ESG) standards.
She said government and regulators pledged to improve the ease of doing business through better regulations, stronger engagement with businesses, business-friendly reforms and effective dispute-resolution mechanisms.“Nigeria’s economic transformation requires partnership, consistency and disciplined implementation to convert reforms into sustainable enterprise growth, investment, employment and national development,” she said.
