Economic Reforms Key to Nigeria’s Sustainable Growth, Says NGX Chairman

Nigeria’s journey toward sustainable economic growth depends heavily on the successful implementation of economic reforms and the strengthening of institutions, according to Chairman of NGX Group Plc, Dr. Umaru Kwairanga. He emphasized that reforms that improve market efficiency, encourage innovation, and attract both local and foreign investment remain essential for building a resilient economy capable of delivering long-term prosperity for Nigerians.

Speaking on the importance of policy reforms, Kwairanga noted that history has shown that the world’s most successful economies did not achieve lasting prosperity by chance. Rather, they implemented deliberate and consistent reforms that strengthened institutions, promoted transparency, and created a business-friendly environment. According to him, these measures helped build investor confidence and supported sustainable economic expansion.

He explained that reforms become truly impactful when they eliminate barriers to investment, lower the cost of doing business, improve productivity, and create opportunities for enterprises to innovate and grow. Such measures, he said, allow businesses to contribute more effectively to national development while creating jobs and generating wealth across various sectors of the economy.

Kwairanga further stressed that businesses flourish in economies where government policies are predictable, transparent, and consistent. He noted that investors are more likely to commit long-term capital when they have confidence in the stability of economic policies and trust that institutions will uphold the rule of law. This confidence, he argued, is critical for attracting investments needed to drive economic transformation.

Highlighting the close relationship between government and the private sector, the NGX Chairman described both as indispensable partners in national development. While governments are responsible for creating an enabling environment through sound economic management and institutional reforms, businesses must continue to invest, innovate, create jobs, and boost productivity. He maintained that continuous collaboration between both sectors remains vital to unlocking Nigeria’s economic potential and achieving sustained national prosperity.

source: The Guardian