Nigeria must shift from policy announcements to results — Sambo
Former Vice President of Nigeria, Arc. Mohammed Namadi Sambo, has warned that the country is at a critical economic crossroads and must urgently convert ongoing macroeconomic reforms into visible improvements in the lives of ordinary citizens. Speaking in Abuja at the formal launch of the Ignite Nigeria Economic Outlook 2026, Sambo said the transition from […]
Former Vice President of Nigeria, Arc. Mohammed Namadi Sambo, has warned that the country is at a critical economic crossroads and must urgently convert ongoing macroeconomic reforms into visible improvements in the lives of ordinary citizens.
Speaking in Abuja at the formal launch of the Ignite Nigeria Economic Outlook 2026, Sambo said the transition from 2025 into 2026 offers “no better time to reflect on Nigeria’s economic future,” noting that the nation is implementing some of its most sweeping reforms in over a decade while grappling with global uncertainty.
He commended President Bola Ahmed Tinubu for approving 10 additional mobile transmission substations following Siemens’ recent briefing on completed transmission facilities, describing the intervention as vital to strengthening power infrastructure and improving investor confidence.
The high-level event, organised by Ignite Capital Ltd in collaboration with the Abuja Economic Dialogue, brought together policymakers, economists, development partners, private-sector leaders and international institutions under the theme, “Navigating Growth, Capital and Reform.” It provided one of the most comprehensive assessments yet of Nigeria’s economic direction heading into 2026.
Sambo cautioned that reforms must now “shift from announcements to implementation, monitoring and strategising,” insisting that the country needs measurable outcomes rather than policy headlines.
He said: “As we approach the end of 2025 and look toward 2026, there is no better time to reflect on Nigeria’s economic future than now. Nigeria’s economy is at a pivotal point, characterised by both significant challenges and considerable potential. Global volatility and domestic reforms are redefining our economic landscape. The Ignite Economic Outlook 2026 offers us a timely and strategic opportunity. It allows us to take stock of the ground that has been covered, articulate a clear pathway forward and confront the realities that lie ahead.”
Sambo noted that the Outlook identifies three potential pathways for 2026 — an upside scenario with GDP growth of 4.7–5.1%, a baseline of cautious relief, and a downside scenario driven by policy slippages or external shocks.
Former Senate President, Dr. Abubakar Bukola Saraki, in his remarks, stressed that Nigerians must begin to feel the benefits of the difficult reforms undertaken in recent years.
“The question is not whether reform was necessary. The real test is whether subsidy removal, FX reforms and fiscal adjustments can translate into inclusive growth that improves daily life,” he said.
“Until Nigerians begin to see lower prices, dependable energy, better schools and hospitals, and dignified work, we are merely adjusting, not advancing.”
Saraki warned that economic growth without job creation is “merely arithmetic,” calling for urgent expansion of labour-intensive sectors including agriculture, manufacturing, energy, transportation, digital technologies and the creative industries.
Earlier, the Convener of the Abuja Economic Dialogue and Chairman of Ignite Capital, Kyari Abba Bukar, said the Dialogue was created to ensure that national economic decisions are grounded in data, evidence and sustained engagement between government and the private sector.
“Abuja has increasingly become the centre of economic conversations and policy direction. Our monthly sessions will dissect specific economic themes and examine what they mean for businesses, government institutions and the wider economy,” he said.
Bukar emphasised that no competitive nation sidelines the private sector, noting that Nigeria’s history of government-dominated economic activity has often constrained productivity and innovation. He argued that ongoing privatisation, market reforms and structural adjustments must be sustained to unlock private-sector growth.
The President of Pedestal Africa, Dr. Paul Arinze, delivered the technical presentation on the Outlook, reviewing 2025 economic performance and modelling the three possible scenarios for 2026. His analysis focused on inflation trends, exchange rate stability, reserve accretion, governance reforms, sectoral growth, and risks linked to global economic conditions.
Arinze said Nigeria is transitioning from macroeconomic stabilisation to early signs of structural recovery but warned that the pace of progress will depend on consistent reform implementation, improved power infrastructure, better security in food-producing regions and stronger investor confidence.
Panelists — including Dr. Sarah Alade, former Deputy Governor of the CBN; Dr. Umaru Kwairanga, Chairman of the NGX Group; Dr. Nurudeen Zauro, TA to the President on Economic & Financial Inclusion; and Yanmo Omorogbe, COO of Bamboo — all underscored the need for consistent reforms, investment in transmission and last-mile infrastructure, digital inclusion, fintech regulation, scalable SME financing, deeper capital markets and human-capital development for an AI-driven future.