Nigeria must prioritise citizen inclusivity in its reforms – Muda Yusuf

As the Nigerian government embarks on the implementation of its proposed 2025 budget and economic reforms, prioritising citizen inclusivity is paramount for the efficiency of its reforms.

This was revealed by Muda Yusuf, director and CEO of the Centre for the Promotion of Private Enterprise (CPPE), who shared his insights on how economic reforms can impact Nigerian business owners in 2025.

During the 2025 Nigerian-American Chambers of Commerce’s breakfast meeting in Lagos on Thursday, Yusuf emphasised the need for the government to put the needs and welfare of citizens at the forefront of its reform agenda as part of its economic outlook.

“The issues we are faced with in Nigeria are bigger than the budget increase of N54.2 trillion. The major issue is how to make the reforms work for the people. We are leaving too many people behind which is affecting the economy and the beauty of an economy is to be as inclusive as possible. People and investment should be the top priority,” he said.

Yusuf added that Nigeria as a developing economy needs to have an ideological consensus on how to manage the economy by adopting classic economic management principles tailored to the market-based economy.

“For the past one and half years, we were hoping to see the benefits of these reforms on the citizens because there are always major economic and social projects at hand. The rising inflationary pressures from food and fuel costs have resulted in poverty. However, there is a need to embrace time-tested economic management principles to ensure an effective approach to drive economic growth” he said.

The CEO noted that the Nigerian government needs to address the rising trade costs and communicate changes within the international trade ecosystem.

“Yesterday, importers got a notice that there is a 4 percent increase in the Standard Operating Procedure (SOP) on all imports, and private business owners are still unaware of this until they start experiencing an increase in purchasing power. The Nigerian government needs to have a serious engagement to address business environment issues by leveraging professional bodies in the trade sector to communicate these changes to our citizens,” he emphasised.,

Yusuf concluded by saying that carrying the citizens along by addressing the rising cost of living and prioritising their welfare would create a more equitable society for Nigerians in 2025.