The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to shift its focus from economic stabilisation to productivity, saying improvements in headline economic indicators have yet to translate into significant relief for households and businesses.

Chief Executive Officer of the centre, Dr Muda Yusuf, made the call in a statement marking Nigeria’s 66th Independence anniversary.

Yusuf acknowledged early gains from petrol subsidy removal, exchange-rate reforms and revenue measures, noting that real GDP growth rose from 3.38 per cent in 2024 to 3.87 per cent in 2025 and reached 4.43 per cent year-on-year in the second quarter of 2026.

He also cited the decline in headline inflation to 15.39 per cent in August 2026, the improvement in government revenues and foreign reserves, and greater exchange-rate stability as signs of progress.

He, however, said the gains had yet to translate into commensurate improvements in household purchasing power and business conditions.

According to him, higher petrol prices, exchange-rate adjustments and global food and energy shocks have raised the cost of living, with transport, food and electricity taking a larger share of household income.

Businesses, he added, continue to contend with higher input, distribution and financing costs.

Yusuf said the next phase of economic policy should focus on removing structural constraints that prevent businesses and households from benefiting from macroeconomic stability.

He identified security, irrigation, storage and access roads as critical needs for farmers, while manufacturers require reliable electricity, efficient ports and predictable regulations.

Small businesses, he said, also need affordable working capital and consumers with sufficient purchasing power to sustain demand.

The CPPE urged the government to prioritise electricity supply, security along farming and commercial corridors, port efficiency, logistics, agricultural productivity, industrial competitiveness and enterprise-relevant skills.

It also called for public support for industry to be tied to investment, efficiency and export performance, to reduce the cost of production.

Yusuf said Nigeria had diversified what it produced more than what it exported, adding that the more important question after six decades of independence was whether the economy could generate greater value per worker and deliver sustained increases in real incomes.

On fiscal governance, he urged the Federal, State and Local Governments to improve service delivery and ensure that higher public revenues translate into measurable improvements in infrastructure, education, healthcare and security.

He said poor coordination among the three tiers of government could undermine national reforms, particularly where inadequate rural roads prevent farmers from accessing markets despite investments in federal highways.

Yusuf warned that increased public revenue would have limited impact if clinics lacked staff, schools lacked teachers and businesses continued to provide their own electricity and water.

He called for greater transparency in the deployment of public resources, saying citizens should be able to see what additional revenues were spent on and the improvements achieved.