CPPE Advocates for Productivity Growth in Nigeria's Economy

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government and other tiers of government to transition economic policy from macroeconomic stabilization to productivity-led growth and shared prosperity as Nigeria celebrates its 66th independence anniversary. In a statement titled “Nigeria at 66: From Economic Stabilisation to Shared Prosperity,” issued by Chief Executive Officer Dr Muda Yusuf, CPPE acknowledged Nigeria's progress in diversifying its economy but noted that the country has diversified its production more than its exports.

The CPPE identified increasing worker productivity, reducing production costs, and translating economic gains into higher real incomes as central challenges. While sectors like agriculture, telecommunications, and banking have expanded Nigeria’s productive capacity, structural constraints hinder productivity.

The organization pointed out persistent weaknesses such as oil dependence and inadequate infrastructure, which expose the economy to external shocks. It emphasized the need for reforms in electricity supply, security, and logistics to support farmers and manufacturers.