President Bola Tinubu has committed to reshaping Nigeria's long-standing narrative of economic underperformance through comprehensive reforms. Speaking at the opening of the 32nd Nigerian Economic Summit Group (NESG) in Abuja, Tinubu, represented by Vice President Kashim Shettima, emphasized the administration's focus on dismantling structural barriers to unleash the nation's potential and create jobs.

Tinubu stated, "We came to rewrite the story of a nation that has performed below its potential for far too long. But there is no shortcut to economic growth. This is why we began with a difficult reset." He highlighted the importance of stabilizing the economy as a prerequisite for harnessing the opportunities presented by Nigeria's growing population.

The summit's theme, "Growth That Works: Delivering Jobs, Productivity and Shared Prosperity," aligns with the previous summit's ambition to achieve a prosperous and inclusive Nigeria by 2030. The President noted that his administration has initiated a series of reforms aimed at addressing the structural barriers that have historically hindered the country's economic growth.

In his address, Tinubu pointed to positive indicators from the National Bureau of Statistics, which reported a 3.89% inflation-adjusted GDP growth in the first quarter of 2026, up from 3.13% the previous year. He also noted that non-oil activities accounted for 96.08% of GDP, with manufacturing and the oil sector experiencing growth rates of 3.29% and 2.57%, respectively.

Despite these promising statistics, Tinubu acknowledged that the journey towards economic recovery is far from complete. He stressed the need to enhance the quality of employment and reduce underemployment, stating, "Our pursuit of prosperity demands greater productivity from every worker, enterprise and investment."

The President outlined several ongoing initiatives, including reforms in the electricity market to improve supply and attract investments, as well as efforts to connect agricultural producers with storage and processing facilities. He also mentioned plans to shift the focus from resource extraction to domestic processing and industrial production in the solid minerals sector.

Amina Mohammed, the United Nations Deputy Secretary-General, commended the reforms but urged the government to consolidate and stabilize its efforts while managing public expectations. Meanwhile, Dr. Taiwo Oyedele, the Minister of Finance, introduced the Nigerian Economic Policy Framework, which aims to guide economic decision-making and measure progress.

The NESG Chairman, Olaniyi Yusuf, noted the participation of various stakeholders at the summit, reflecting a collective commitment to fostering inclusive growth. He acknowledged the government's efforts to improve the business environment, while AbdulSamad Rabiu, Chairman of BUA Group, praised the administration's reforms for addressing long-standing challenges faced by Nigerian businesses, particularly in accessing foreign exchange.

The summit, which gathered business leaders, state governors, and ministers, underscores the urgency of economic reform in Nigeria as the nation seeks to rewrite its economic story and build a more prosperous future for its citizens.