Chukwu Obinna 
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ABUJA, Nigeria – Nigeria must rein in public spending, deepen governance reforms and significantly expand domestic production to secure sustainable economic growth in 2026, the Chartered Institute of Directors of Nigeria warns.
Speaking in Lagos on Friday while unveiling the institute’s New Year Economic Report, CIoDN Director-General, Taiwo Nolas-Alausa, says global economic weakness places greater responsibility on emerging economies to drive growth through internal reforms.
He describes 2025 as a transition year in Nigeria’s reform journey, noting that tax reforms, foreign exchange adjustments, GDP rebasing and financial sector restructuring have begun to stabilise the economy.
Nolas-Alausa says the ongoing banking recapitalisation exercise, which has attracted over ₦2.5 trillion in fresh capital, is strengthening the resilience of the financial system, while the Nigerian Insurance Industry Reform Act 2025 further enhances stability.
Against persistent global headwinds, including geopolitical tensions and climate disruptions, he stresses the need for Nigeria to consolidate reforms and address security challenges to attract investment.
“The economic signals are improving, but policy alone is not enough,” he says. “Strong coordination and ethical leadership are critical.”
He urges business leaders and public officials to prioritise accountability, tax compliance, sustainability and sound corporate governance.
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