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The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Coordinating Minister of the Economy and Minister of Finance, Dr Taiwo Oyedele, assured investors at the 14th BusinessDay CEO Forum Nigeria 2026 that Nigeria has entered a new phase of economic stability.
The 14th BusinessDay CEO Forum Nigeria 2026, themed ‘From Stability to Shared Prosperity,’ was held yesterday in Lagos. The forum brought together Nigeria’s economic managers, captains of industry, development partners, and business leaders to discuss the country’s improving macroeconomic stability and how to translate it into inclusive economic growth.
Delivering the keynote address, Oyedele said, “Nigeria has successfully navigated the difficult phase of restoring macroeconomic stability, and we must now focus entirely on converting those gains into inclusive prosperity.”
He explained that successful economic transformation must follow three sequential stages: stabilisation, growth, and shared prosperity. The minister stated that the administration inherited multiple exchange rates, fuel subsidy distortions, weak public finances, and an inefficient tax system that imposed heavy compliance costs on businesses.
However, the impact of these changes is already visible, according to Oyedele. He stated, “Our reforms have strengthened external reserves, restored investor confidence, improved the functioning of the foreign exchange market, and placed inflation back on a downward trajectory despite global uncertainties.”
Oyedele reiterated the government’s commitment to building a $1tn economy by 2030. The minister also announced plans to strengthen collaboration between the state and the private sector, proposing “a Public Policy Private Partnership framework that will allow the private sector to actively participate in policy formulation.”
The Corporate Affairs Commission has recorded an increase in businesses applying for registration daily, following measures introduced by the government. The minister stated, “About 10,000 informal businesses now apply daily for registration through the Corporate Affairs Commission.”
To achieve the objective of converting macroeconomic stability into inclusive prosperity, Oyedele outlined three pillars driving the government’s economic agenda. These pillars are improving productivity through industrialisation and value addition, optimising public revenue through tax reforms and simplified compliance, and promoting inclusion through investments in education, vocational training, women, youths, persons living with disabilities, and small businesses.
The government plans to measure shared prosperity using three specific metrics: a reduction in multidimensional poverty, growth in real income per capita, and declining inequality across the board.
“Nigeria has entered a new phase of economic stability capable of supporting long-term investment, productivity and job creation.”
The Minister of Finance, Dr Taiwo Oyedele, announced plans to implement a Public Policy Private Partnership framework that will allow the private sector to actively participate in policy formulation. The framework is expected to enhance collaboration between the state and the private sector.
The BusinessDay CEO Forum Nigeria 2026 is an annual platform that brings together government and the private sector to discuss practical solutions to Nigeria’s economic challenges. The forum has been held for 14 years and is one of Nigeria’s leading platforms for policy dialogue.
The Publisher and Editor-in-Chief of BusinessDay, Frank Aigbogun, commended the CBN for winning the Central Bank of the Year Award.
Nigeria currently hosts five of Africa’s nine technology unicorns.
Key Facts
• Nigeria has entered a new phase of economic stability capable of supporting long-term investment, productivity, and job creation. • The administration has strengthened external reserves, restored investor confidence, improved the functioning of the foreign exchange market, and placed inflation back on a downward trajectory despite global uncertainties. • The government plans to measure shared prosperity using three specific metrics: a reduction in multidimensional poverty, growth in real income per capita, and declining inequality across the board. • The government has implemented a Public Policy Private Partnership framework to enhance collaboration between the state and the private sector. • Nigeria currently hosts five of Africa’s nine technology unicorns.