CPPE Urges FG to Transform Economic Reforms for Growth

The Centre for the Promotion of Private Enterprise (CPPE) commended President Bola Ahmed Tinubu's administration for its achievements over the first three years, particularly in stabilizing Nigeria's economy, which was on the brink of collapse in May 2023. Dr. Muda Yusuf, the Chief Executive Officer of CPPE, assessed the administration's performance within the context of severe economic crises and structural distortions inherited from previous governments.

He emphasized the importance of translating macroeconomic stability into inclusive growth, job creation, and improved living standards for Nigerians. The CPPE highlighted challenges such as a fragmented foreign exchange market, declining investor confidence, and fiscal deficits exacerbated by fuel subsidy regimes.

Yusuf noted that successful reforms should be measured by their impact on job creation and quality of life rather than just financial metrics. The CPPE called for continued reforms, including the removal of fuel subsidies and unification of exchange rates, to enhance transparency and attract investments.