The Nigerian Economic Summit Group (NESG) has urged the country to significantly increase productive investment to drive job creation, productivity, and broad-based prosperity. According to the private sector-led policy advocacy organisation, the current level of capital formation in the economy is inadequate to meet the needs of Nigeria's expanding population. NESG's Head of Strategic Communication and Advocacy, Ayanyinka Ayanlowo, made this assessment in a statement ahead of the 32nd Nigerian Economic Summit.
The NESG attributed the investment shortfall to persistent infrastructure gaps, inadequate access to long-term financing, regulatory uncertainty, and high operating costs. These challenges have restricted productive investment over the years, despite Nigeria's enormous potential. The group noted that the urgency to address the situation has increased as countries compete more aggressively for available global investment capital.
The NESG acknowledged recent economic reforms introduced to improve macroeconomic stability, strengthen fiscal sustainability, and rebuild investor confidence. However, the group stressed that these measures must be followed by increased investment in productive sectors. The reforms represent only the first step, and the next challenge is translating stability into productive investment that expands businesses, creates jobs, and improves living standards.
The investment challenge will form a major part of discussions at the forthcoming economic summit, themed 'Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.' The summit will examine ways to direct more domestic and international capital into key sectors such as agriculture, manufacturing, infrastructure, technology, energy, mining, logistics, and the creative economy.
Attracting investment into these sectors requires a more supportive business environment, reduced obstacles to enterprise expansion, deeper capital markets, and policies that encourage long-term investment. The focus is on ensuring that investment flows into sectors capable of generating broad economic value, strengthening productivity, and creating opportunities for millions of Nigerians.
The NESG identified micro, small, and medium enterprises as a key component of Nigeria's investment and employment strategy. The group stressed the need to improve their access to finance, reduce regulatory constraints, and encourage greater formalisation of businesses. Beyond physical and financial capital, the organisation emphasised the need for sustained investment in human capital, particularly in education, healthcare, workforce preparation, and skills development.
The NESG called on the Federal Government to improve the policy and investment environment, while urging businesses to increase productive investment and innovation. The group also urged development partners to provide catalytic financing and capacity-building support, while asking educational institutions to adapt their programmes to changing labour-market needs.
Key points
- The Nigerian Economic Summit Group is holding its 32nd summit on October 26 and 27, 2026, at the Transcorp Hilton Hotel, Abuja.
- The summit's theme is 'Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.'
- NESG emphasised the need for sustained investment in human capital to develop the capabilities of Nigeria's workforce.
