Economic Stability Will Unlock Transport Infrastructure Investment as Nigeria -Minister

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said Nigeria has moved past the most difficult phase of its economic reforms and is now positioned to accelerate inclusive growth, with transport infrastructure listed among the priority sectors to benefit.

Speaking at the Nigeria Employers’ Summit 2026 organised by the Nigeria Employers’ Consultative Association in Abuja, Oyedele told business leaders, policymakers and development partners that the reforms introduced by the President Bola Ahmed Tinubu administration averted an imminent economic collapse and created the macroeconomic stability needed to attract investment into critical areas including roads, rail, ports and urban mobility.

Addressing a high-level panel on “Reforms in Focus: The Milestones, the Challenges and the Prospects,” the Minister said the short-term volatility that followed subsidy removal, foreign exchange reforms and fiscal restructuring was necessary to end a situation where oil revenue was largely consumed by subsidies while debt servicing swallowed most non-oil revenue, leaving little for infrastructure. “The reforms were not optional; they were necessary to prevent economic collapse. The task before us now is to consolidate the gains, deepen stability and accelerate productive, inclusive growth that improves the lives of Nigerians,” he said.

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Oyedele stated that the economy has transitioned from severe volatility to increasing stability, creating conditions to stimulate productivity and improve long-term resilience across sectors. He added that the next phase will focus on faster growth, lower inflation, and expanding opportunities for businesses, while protecting low-income earners and small enterprises. He noted that the administration’s tax reforms were designed to shield small businesses and low-income households while ensuring those with greater capacity contribute more to public services and national development, including infrastructure.

The Minister also stressed the need for better public understanding of economic policy, saying perceptions around government borrowing often ignore its role as a fiscal tool for sustaining services and funding long-term projects such as transport networks. “A government that borrows is accused of mortgaging the future rather than exercising sound fiscal strategy necessary to keep the economy running,” he said.

Other panelists, including the Director-General of the National Health Insurance Authority Dr. Kelechi Ohiri, CPPE Chief Executive Dr. Muda Yusuf, and NESG Principal Economist Dr. Wilson Erumebor, acknowledged the importance of the reforms and called for stronger action to translate macroeconomic stability into improved infrastructure, power, tax administration and support for small and medium enterprises. Discussions at the summit covered healthcare financing, infrastructure delivery, enterprise competitiveness and the role of Environmental, Social and Governance principles in driving national growth.

The Nigeria Employers’ Summit 2026 brought together senior government officials, private sector leaders, development partners and economic experts to review how ongoing reforms can deliver tangible benefits to citizens and businesses.