Nigeria Calls for Incentivized Private Capital and Review of Rate Hikes to Boost Growth

Chief Economic Adviser Adedoyin Salami told investors at The Quorum forum in Lagos that, amid sweeping economic reforms that are narrowing fiscal space, Nigeria must attract and retain incentivised private capital—both domestic and international—to sustain long‑term growth. He emphasized the need for a regulatory environment that balances security, law and order with the interests of citizens and investors.

Presidential aide Tope Fasua warned at the Africa Emerging Markets Forum in Abuja that Nigeria’s prolonged high interest rates could slow growth more than they tame inflation. He highlighted the weak transmission of monetary policy in an economy dominated by MSMEs and a large informal sector, arguing that rate cuts may have limited impact on credit availability and that policymakers should reconsider the tight monetary stance.