President Bola Ahmed Tinubu declared on Monday that his administration is actively rewriting Nigeria’s decades-long narrative of economic under-performance through comprehensive structural reforms designed to eliminate systemic bottlenecks, unlock national potential, and deliver jobs, heightened productivity, and shared prosperity. The President delivered the address through Vice President Kashim Shettima during the official opening ceremony of the 32nd Nigerian Economic Summit (NES #32), held at the Transcorp Hilton Hotel in Abuja.
Speaking to an audience of business executives, policymakers, and international delegates, President Tinubu emphasized that there were no shortcuts to economic revitalisation, justifying the administration’s initial policy choices as a mandatory reset to stabilize the macroeconomic environment. Addressing the theme of the summit”Growth That Works: Delivering Jobs, Productivity and Shared Prosperity”, President Tinubu noted that rescuing the national economy was fundamentally about protecting livelihoods and transforming prospects for job seekers, farmers, manufacturers, and entrepreneurs.
He asserted that the administration came to rewrite the story of a nation that had performed far below its potential for too long, pointing to emerging macroeconomic indicators as proof that investor confidence is returning. Citing national economic metrics, the President highlighted that Nigeria achieved a 3.89 percent real Gross Domestic Product (GDP) growth rate in the first quarter of 2026, marking an improvement over the 3.13 percent recorded in the corresponding period of 2025. Non-oil activities drove the expansion, contributing 96.08 percent to overall real GDP.
Furthermore, capital importation surged by 83.83 percent year-on-year to $10.37 billion during the first quarter, fueled by increases in foreign direct investment and portfolio inflows. The administration’s policy roadmap, as outlined during the address, prioritizes power sector efficiency, business environment simplification, tax reform, and targeted support for young innovators competing in technology, creative industries, and financial services.
In an official statement following the event, Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, confirmed the administration’s commitment to creating an enterprise-friendly ecosystem built on fair markets and whole-of-government coherence. International and regional leaders present at the venue reinforced the imperative of sustained reform.
Delivering remarks at the opening session, United Nations Deputy Secretary-General Dr. Amina J. Mohammed commended the reform trajectory while urging the Federal Government to consolidate its economic gains and effectively manage public expectations during the transition period.
The opening ceremony was attended by key cabinet members and state executives, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; Lagos State Governor Babajide Sanwo-Olu; Anambra State Governor Prof. Chukwuma Soludo; and the Chairman of the Nigerian Economic Summit Group (NESG), Olaniyi Yusuf.
