By Peace Erewunmi

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to ensure that Nigeria’s recent economic growth translates into more jobs, higher household incomes and improved living standards.

The call followed the release of Nigeria’s second-quarter 2026 Gross Domestic Product (GDP) figures, which showed that the economy grew by 4.43 per cent year-on-year.

The latest growth rate was higher than the 3.89 per cent recorded in the first quarter of 2026 and the 4.23 per cent recorded in the corresponding period of 2025. The performance represents the strongest quarterly growth in five years, according to CPPE.

CPPE said the improvement was supported by stronger performances across several sectors, including agriculture, mining, construction, trade, refining, financial services and real estate.

The organisation, however, stressed that stronger GDP figures should not be viewed as an end in themselves, arguing that the real test of economic recovery is whether ordinary Nigerians experience improvements in employment, income and purchasing power.

CPPE Chief Executive Officer, Dr Muda Yusuf, urged the government to focus on sectors with strong job-creation potential, including agro-processing, textiles, pharmaceuticals, chemicals, construction materials and light manufacturing.

The group also called for greater investment in electricity generation, transmission and distribution, noting that high energy costs remain a major constraint on businesses and manufacturers.

It further advocated affordable, long-term financing for manufacturers, farmers, micro, small and medium-sized enterprises, as well as improved roads, railways, ports, warehouses and other logistics infrastructure.

CPPE also recommended increased investment in agriculture through irrigation, mechanisation, improved seeds, fertiliser, storage facilities, insurance and access to credit.

The organisation said the financial sector’s strong performance should be leveraged to increase credit to productive sectors of the economy.

Beyond production and investment, CPPE called for stronger social protection measures, including cash transfers, nutrition support, labour-intensive public works, apprenticeships and technical training to ensure vulnerable Nigerians benefit from the economic recovery.

The group also proposed the introduction of an inclusive-growth dashboard to accompany quarterly GDP reports. The dashboard would track indicators such as employment, real wages, MSME performance, agricultural output, manufacturing, electricity supply, non-oil exports and private investment.

CPPE said Nigeria’s 4.43 per cent GDP growth provides a foundation for stronger expansion but warned that sustaining the momentum would require consistent policies, lower production costs and greater investment in productive sectors.

The organisation said Nigeria could progressively achieve 6–7 per cent economic growth if reforms are sustained and investment is directed towards sectors capable of creating jobs and strengthening domestic value chains.