32nd NESG: Tinubu Reveals How Reforms Are Rewriting Nigeria’s Economic Story

According to a report by The Vanguard on Tuesday, October 27, 2026, President Bola Tinubu has declared that his administration is successfully rewriting Nigeria’s decades-long history of economic under-performance through tough structural reforms designed to dismantle structural barriers, unlock the nation’s immense potential, and deliver sustainable jobs, productivity, and shared prosperity.

Speaking through Vice President Kashim Shettima at the official opening of the 32nd Nigerian Economic Summit Group (NESG) conference in Abuja, Tinubu noted that rescuing the economy required a difficult reset because true growth has no shortcuts.

He emphasized that the administration’s primary focus is transforming fortunes and livelihoods for young job seekers, farmers, entrepreneurs, and manufacturers across the country.

Highlighting recent economic milestones, the President revealed that Nigeria’s inflation-adjusted Gross Domestic Product grew by 3.89 percent in the first quarter of 2026, up from 3.13 percent in the previous year.

He also pointed out that capital importation surged by 83.83 percent to hit $10.37 billion in Q1 2026, while non-oil activities accounted for 96.08 percent of the GDP, reinforcing confidence in economic recovery.

Reactions from key stakeholders at the high-profile summit offered diverse insights. United Nations Deputy Secretary-General, Dr. Amina Mohammed, urged the government to prioritize swift stabilization, consolidation, and effective expectation management.

Meanwhile, BUA Group Chairman AbdulSamad Rabiu strongly commended the administration’s reforms, noting that improved access to foreign exchange has significantly eased business operations despite current financial pressures felt by ordinary citizens.

Finance Minister Dr. Taiwo Oyedele presented the draft Nigerian Economic Policy Framework, inviting experts to contribute robust critiques.

The summit drew prominent leaders, including Lagos State Governor Babajide Sanwo-Olu and Anambra’s Professor Chukwuma Soludo.

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