CPPE Backs FG Reforms, Calls for Shift From Stability to Productivity
reported by facthabournews
The Centre for the Promotion of Private Enterprise (CPPE) has endorsed the Federal Government’s ongoing economic reform programme but urged the administration to move into a new phase focused more strongly on productivity, investment, job creation and improved living standards.
The private-sector advocacy organisation said recent reforms had produced measurable improvements in Nigeria’s fiscal and macroeconomic position, including stronger government revenues, greater stability in the foreign exchange market, improved external reserves and increased investor confidence.
However, the CPPE warned that macroeconomic stability should not be treated as the final objective of the reform programme. It argued that the real success of the reforms would ultimately be measured by their impact on businesses, workers and households.
CPPE Wants New Reform Focus
The position was contained in a statement issued on Sunday by the organisation’s Chief Executive Officer, Dr Muda Yusuf, following the Federal Government’s economic reform scorecard presented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on August 19, 2026.
According to the CPPE, Nigeria has made progress in restoring macroeconomic stability since the implementation of major reforms, including the removal of petrol subsidy and changes to the foreign exchange market.
The organisation, however, said the next stage should focus on transforming those gains into higher productivity, stronger private-sector investment, more employment opportunities and better household welfare.
“Macroeconomic stability is a means, not an end,” the CPPE said, stressing that improved economic indicators would have limited significance if they did not translate into tangible improvements in people’s lives.
Businesses Still Face High Operating Costs
The organisation identified several structural challenges that continue to affect businesses across the country.
Among them are high electricity and energy costs, expensive financing, inadequate infrastructure, logistics challenges, insecurity and regulatory burdens.
The CPPE said these factors continue to increase the cost of production and make it difficult for Nigerian businesses to compete effectively.
It particularly highlighted the electricity sector, which it said contracted by 15.3 per cent in the first quarter of 2026, even as manufacturing and agriculture recorded growth during the same period.
The group argued that stronger economic growth would require government to address these supply-side constraints rather than relying mainly on macroeconomic policy measures.
Productivity Should Drive Next Phase
According to the CPPE, the Federal Government should now concentrate on policies that directly improve the ability of businesses and individuals to produce goods and services efficiently.
The organisation called for improvements in electricity supply, transport infrastructure, logistics, port operations and security.
It also advocated greater access to affordable long-term financing for productive sectors, particularly businesses that can create jobs and increase domestic production.
The CPPE has previously made similar recommendations, arguing that Nigeria’s economic recovery would remain incomplete unless macroeconomic improvements were accompanied by stronger competitiveness and productivity.
Investment and Job Creation
The organisation also wants the government to create conditions that encourage greater private-sector investment.
According to the CPPE, investors need predictable policies, reliable infrastructure, access to finance and a business environment where production costs can be managed.
The group said increased investment would be important for creating jobs and expanding productive capacity.
It also called for stronger domestic value addition so that Nigeria can reduce its dependence on imported products while creating opportunities for local manufacturers, farmers and businesses.
The CPPE said trade policies should protect industries with genuine local capacity from unfair competition while ensuring that businesses can access essential inputs that are not sufficiently available domestically.
CPPE Warns Against Reversing Reforms
Despite its concerns about the social and economic costs associated with the reforms, the organisation cautioned against abandoning the current reform trajectory.
The CPPE said reversing the reforms could undermine investor confidence, weaken fiscal stability and create renewed pressure in the foreign exchange market.
Instead, it called for continuous adjustment of the reform instruments based on evidence, implementation experience and their effects on households and businesses.
The organisation’s position is therefore not a rejection of the government’s reforms but a call for a change in emphasis as the programme progresses.
Household Welfare Remains Important
The CPPE also acknowledged that many households continue to experience pressure on their purchasing power.
Nigeria’s economic reforms have been associated with higher costs in areas such as transportation, energy and financing, creating difficulties for households and businesses even as some macroeconomic indicators improve.
The organisation has previously warned that food inflation remains a major threat to household welfare and argued that structural measures are needed to increase food supply, improve agricultural productivity and reduce transportation and logistics costs.
The group therefore wants government to ensure that improved revenues and economic stability result in visible development and welfare benefits.
Reform Gains Must Reach Nigerians
The CPPE’s latest position comes amid the Federal Government’s efforts to demonstrate the impact of its economic policies.
Finance Minister Taiwo Oyedele has argued that the reforms helped strengthen public finances and avert a potential economic crisis, although he also acknowledged that Nigerians have faced significant short-term costs.
The CPPE’s response reflects a similar recognition that economic reforms can produce important macroeconomic gains while still leaving households and businesses facing serious challenges.
The organisation believes the next phase should therefore bridge the gap between macroeconomic indicators and the real economy.
Looking Ahead
The CPPE’s recommendations place productivity and competitiveness at the centre of Nigeria’s next economic policy phase.
For the Federal Government, this would mean placing greater emphasis on infrastructure, electricity, agriculture, manufacturing, financing, security and other factors that directly influence production.
For businesses, improved operating conditions could encourage investment and expansion, while increased productive activity could support job creation and household incomes.
The CPPE also urged policymakers to maintain consistency in the reform programme while responding to emerging economic realities.
As Nigeria moves deeper into the 2027 political cycle, the organisation cautioned against allowing political activities to undermine the momentum of economic reforms.
Ultimately, the CPPE wants the government’s economic programme to move beyond stabilising the economy and focus on creating an environment where businesses can produce more, investors can commit more capital, workers can find more opportunities and households can experience meaningful improvements in their standard of living.
The message from the private-sector group is therefore clear: economic stability should provide the foundation, but productivity, investment, jobs and improved welfare should define the next stage of Nigeria’s economic reforms.
This report is based on statements attributed to the Centre for the Promotion of Private Enterprise and publicly reported information. The policy recommendations expressed by the organisation represent its position and are not presented as independent government policy.
