Nigeria must mobilise an estimated $47.6 billion annually to finance its transition from economic stabilisation to sustainable growth, according to a new report by the Nigerian Economic Summit Group (NESG), which warns that recent reforms could unravel without large-scale investment and stronger institutional coordination.
The report, titled *Financing Nigeria’s Consolidation Phase for Growth*, said the country has entered a critical consolidation phase following major market-oriented reforms, including exchange rate unification and the removal of petrol subsidies. While these measures have corrected longstanding distortions, the NESG argued that stabilisation alone would not guarantee long-term economic prosperity.
“Consolidation represents the medium-term phase of economic management that succeeds stabilisation,” the report stated, noting that the next stage requires sustained investment, institutional strengthening, productivity growth and structural transformation to translate recent reforms into durable economic gains.
According to the report, Nigeria’s biggest challenge is not a lack of capital but the absence of a
This post was originally published on this site.
