CPPE backs FG reforms, urges shift from economic stability to productivity

Last updated: August 23, 2026 5:46 pm

By ekeminiatai

The Centre for the Promotion of Private Enterprise (CPPE) has backed the Federal Government’s economic reform programme, saying the measures have produced measurable improvements in Nigeria’s fiscal and macroeconomic position.

The group, however, said the gains would have limited meaning unless they translate into higher productivity, increased investment, more jobs and improved living standards for Nigerians.

The CPPE made the position known in a statement issued by its Chief Executive Officer, Muda Yusuf, on Sunday, five days after the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, presented the Federal Government’s economic reform scorecard.

The scorecard, presented on 19 August in Abuja, assessed the benefits, costs and potential harms prevented by the reforms introduced by President Bola Tinubu’s administration.

The reforms, which include the removal of the petrol subsidy and changes to the foreign exchange market, have significantly altered Nigeria’s fiscal and economic landscape since June 2023.

While the government said the measures have strengthened public finances, improved foreign exchange stability, and restored investor confidence, they have also increased the cost of living and of doing business, with Nigerians continuing to contend with high food, energy, and financing costs.

Mr Yusuf said the government’s disclosure of the reform outcomes was important because transparency was necessary to build public confidence in the measures.

“Such transparency is critical to reform credibility,” he said, while welcoming what he described as the minister’s balanced acknowledgement of both the gains and adjustment costs of the reforms.