Nigeria’s Growth Hinges on Economic Stability and Youth Empowerment.

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Economists and industry leaders are urging Nigeria to focus on domestic economic growth, infrastructure development, and youth empowerment to achieve sustainable growth in 2025. 

This call to action was made during the Meristem 2025 Economic Outlook event in Lagos, which brought together policymakers, industry leaders, and investors to discuss Nigeria’s economic prospects.

Dr. Tope Fasua, Special Adviser to the President on Economic Affairs, emphasized the importance of strengthening Nigeria’s local economy to reduce reliance on external borrowing. 

“To sustain the country’s economy, we must focus on Nigeria’s domestic and local economy so there will be less pressure on borrowing from external bodies,” Fasua stated.

He also highlighted the need for a more equitable society to generate revenue and combat inflation.

Fasua noted that the devaluation of the Naira has contributed to a decline in the “Japa” trend, where Nigerians migrate abroad in search of better opportunities. However, he stressed that Nigeria’s priority should be achieving economic stability.

“What Nigeria needs now is stability. We must be stable in our local production and run our own economy to defend the Naira,” he added.

Akinola Baiyewu, Principal Manager of Agribusiness Finance and Investments at NIRSAL, emphasized the government’s increased focus on land and production. He called for product standardization to meet international quality standards and stronger collaboration among government agencies. 

“Some of the government’s budget is now directed towards land space for production. We must also standardize to meet international quality,” Baiyewu said.

Baiyewu also stressed the need to address infrastructure challenges, such as the coastal road project, and to strengthen self-regulatory organizations.

Sulaimon Adedokun, Group Managing Director of Meristem, reassured investors of the firm’s commitment to providing transparent and timely economic insights. He stressed the need for strategic investment decisions amid ongoing economic reforms. 

“Our firm is dedicated to providing updated information to grow wealth in an atmosphere of transparency. We aim to offer insights that help investors make better decisions,” Adedokun said.

He also expressed optimism about Nigeria’s economic prospects in 2025, citing the government’s efforts to implement policies that promote economic growth. 

“The economy is undergoing significant reforms, and with better policies, we anticipate improvements in 2025 compared to 2024,” Adedokun said.

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