The Chairman of the Nigerian Economic Summit Group, Niyi Yusuf, has identified inflation, high interest rates, and low productivity as major threats to Nigeria’s economic stability in 2025.

Speaking at the Lagos Business School, he called for urgent sectoral reforms to tackle these challenges.

Yusuf noted that while sectors like oil and gas, ICT, finance, and water resources grew by over 5% in 2024, they contributed little to job creation, leaving key sectors like agriculture and construction underperforming.

With 92% of Nigerians in the informal sector, he stressed the need for job-creation policies aligned with Sustainable Development Goal 8.Inflation, driven by insecurity and agricultural inefficiencies, peaked at 34% in 2024 and is expected to stay above 20% in 2025.

Yusuf warned that high food prices and a volatile foreign exchange market exacerbate poverty, urging economic diversification to reduce reliance on oil and gas, which accounts for 96% of earnings.

High energy costs, inefficient infrastructure, and restrictive monetary policies further strain businesses, while excessive checkpoints hinder exports and inflate costs.

Yusuf commended efforts to liberalize foreign exchange policies and advocated for policy stability, security, and infrastructure investment to drive recovery.

He encouraged businesses to embrace local sourcing, cost optimization, and AI to navigate challenges and expand markets.

He concluded by urging collaboration among government, private sector, and civil society to address economic vulnerabilities and foster sustainable growth.