The Nigerian Economic Summit Group in partnership with the Federal Ministry of Budget and Economic Planning, has officially launched preparations for the 31st Nigerian Economic Summit.
Themed ‘The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,’ this year’s summit will take place in October in Abuja.
NESG said the summit will focus on accelerating structural reforms to consolidate economic stability, foster inclusive growth, and position Nigeria to achieve its long-term development agenda.
Speaking on behalf of the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, the Director of Macroeconomic Analysis at the Ministry, Felix Okonkwo, said recent reforms such as fuel subsidy removal and foreign exchange harmonisation are already yielding positive results.
Bagudu described these gains as “signals that Nigeria has chosen the right path,” while stressing the need to sustain reforms through deliberate policies that prioritise productivity, resilience and inclusivity.
Okonkwo highlighted the Renewed Hope Ward Development Programme, recently unveiled by President Bola Tinubu, saying that it marked a significant shift in Nigeria’s strategy for economic development and poverty alleviation.
The initiative was designed to uplift more than 10 million economically active citizens, ensuring that ordinary Nigerians, particularly those at the grassroots, directly feel the positive impact of the administration’s ongoing economic reforms.
He said that by targeting all 8,809 wards across the 774 local government areas of the federation, the programme guarantees inclusivity, leaving no community behind in the quest for shared prosperity and sustainable growth
He further explained that NES#31 will focus on five core sub-themes: driving industrialisation-led growth, building infrastructure for competitiveness, advancing inclusion for shared growth, strengthening institutions for sustainable impact, and unlocking investment amid global trade shifts.
These, he said, mirrored the government’s medium- to long-term objectives of sustainable development, poverty reduction, and inclusive prosperity.
In his welcome address, Chairman of the NESG, Niyi Yusuf, underscored the urgency of the theme, describing it as “a reflection of where we are as a nation, and a call to action on what must be done if Nigeria is to truly prosper.”
He explained that over the past three decades, the Nigerian Economic Summit has evolved through five defining phases of Nigeria’s economy—from the pre-reform crises of the 1980s and 1990s, to the reform push of the 2000s, the traction of Vision 20:2020, and the volatility of recent years marked by recession and a pandemic.
He added that at every turning point, whether in pensions, agriculture, or energy reforms, the Summit has remained Nigeria’s foremost dialogue platform for shaping national priorities and building consensus between government and the private sector.
On the country’s current reality, Yusuf emphasised the need for a second wave of structural reforms, building on the tough policy choices already undertaken in recent years.
The removal of fuel subsidies and the harmonisation of foreign exchange were courageous steps that brought short-term pain but created long-term opportunities. But stability is not the destination; it is only the starting point. The Reform Imperative is not a choice, it is a necessity,” he stressed.
In his comments, the Chief Executive Officer of NESG, Tayo Aduloju, reiterated that the Nigerian Economic Summits have consistently proven the power of evidence-based dialogue to redirect the course of the nation.
According to him, NES#31 represents a defining moment to consolidate reforms, address the constraints to investment, production and productivity, and set Nigeria firmly on the path to achieving the aspirations of Nigeria Agenda 2050.
“As we enter the Agenda 2050 era, NES#31 must help us sustain this momentum and translate resilience into renewal,” he said.
