CPPE Warns Against Reversing Nigeria's Economic Reforms

The Centre for the Promotion of Private Enterprise (CPPE) issued a warning against reversing Nigeria's economic reforms, stating that such actions would damage the economy. In a statement signed by Chief Executive Officer Dr Muda Yusuf, the CPPE urged the government to shift focus from macroeconomic stabilization to enhancing productivity, job creation, and living standards.

The organization emphasized the need for sustained reforms, which should be adjusted based on evidence and their effects on businesses and households. Reversing these reforms could undermine investor confidence, weaken fiscal stability, and destabilize the foreign exchange market.

The statement follows concerns regarding the fiscal space created by the reforms, with Nigeria incurring N10.61 trillion in additional debt-service costs from June 2023 to December 2025, surpassing the N6.47 trillion spent on strategic infrastructure during the same period. Debt servicing accounted for approximately 34.6% of the Federal Government's incremental expenditure, reflecting fiscal pressures linked to the naira's depreciation and higher interest rates.