The Nigerian Economic Summit Group has urged state governments to compete more aggressively for private investment by improving governance, strengthening institutions and creating business-friendly environments rather than relying on fiscal incentives.
The private sector-led policy group said stronger competition among states for capital could help spread economic opportunities beyond a handful of major cities and unlock the productive potential of different regions.
The NESG stated this in a statement on Monday on the Scale Nigeria sub-theme of the 32nd Nigerian Economic Summit, scheduled for October 26 and 27, 2026, at the Transcorp Hilton Hotel, Abuja.
It said states seeking to attract investors must improve land administration, provide predictable regulations, strengthen dispute-resolution systems and adopt development policies that support businesses.
“State governments will be challenged to compete for investment not through unsustainable fiscal concessions but through the quality of their governance, the competence of their institutions, and the strategic intelligence of
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