As preparations gear up for the 31st Nigerian Economic Summit (NES #31), the Nigerian Economic Summit Group (NESG) has issued a bold reminder that Nigeria’s domestic policy choices have far-reaching implications across the African continent.
In a statement released on Monday and signed by Ms. Ayanyinka Ayanlowo, Acting Head of Strategic Communication & Advocacy at the NESG, the group emphasized the significance of Nigeria’s leadership role on the continent, especially in shaping economic trends, trade flows, and regional integration efforts.
With the 2025 summit scheduled to take place in Abuja this October, under the theme “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030”, stakeholders from across the public and private sectors are expected to convene to drive dialogue around reforming Nigeria’s economic and governance architecture.
“As Africa’s most populous nation and one of its largest economies, Nigeria’s domestic policies have ripple effects across the continent,” the statement noted. “In a time of shifting global trade dynamics and an increasing push for regional integration under the AfCFTA, NES #31 will explore how Nigeria can lead Africa’s economic renaissance through trade, technology, enterprise, and diplomacy.”
With Nigeria’s economy valued at N372.8 trillion, the country ranks as the fourth-largest economy in Africa. This economic heft places a responsibility on Nigeria to drive stability and progress within the continent, particularly in light of current global uncertainties and regional development gaps.
The NESG warned that Nigeria’s failure to implement consistent and transformative reforms could stall Africa’s progress toward deeper integration, stronger investment attraction, and more inclusive growth.
The summit will feature plenary sessions, technical dialogues, high-level roundtables, and curated sectoral engagements, all designed to influence national policies and foster multi-stakeholder collaboration. Sub-themes include:
Driving Industrialisation-Led Growth: Strengthening Nigeria’s industrial base through value chain development, SME integration, and technological innovation.
Building Infrastructure for Competitiveness: Accelerating infrastructure investment to boost productivity, reduce logistics costs, and enable seamless regional trade.
Advancing Inclusion for Shared Prosperity: Promoting economic participation for youth, women, and underserved communities through targeted interventions.
Strengthening Institutions for Sustainable Impact: Enhancing regulatory efficiency, transparency, and service delivery within the public sector.
Positioning Nigeria as an Investment Destination: Leveraging AfCFTA, export diversification, and governance reform to attract local and foreign capital.
According to the NESG, Nigeria’s reform journey has yielded notable gains in sectors like telecommunications, agriculture, maritime, banking, and energy, but more effort is needed to sustain momentum.
“Reforms must be institutionalised. Success is not just about bold ideas but about continuity, political will, and citizen ownership,” the group emphasized.
NES #31 will explore how Nigeria can entrench reform-minded governance, reduce policy reversals, and ensure that reforms are inclusive, citizen-focused, and outcomes-driven.
Over the years, the Nigerian Economic Summit has served as a strategic platform for shaping national development priorities. The outcomes of previous summits have informed critical reforms and public-private collaboration, making the NES a crucial part of Nigeria’s development narrative.
As Nigeria moves toward the 2030 agenda for sustainable development, the upcoming summit is expected to outline actionable strategies that will not only benefit the country but also shape the future of Africa’s regional economy.