ActionAid Nigeria (AAN) has called on the federal and state governments to promote a people-centred economic recovery agenda focused on affordable electricity, security, support for small businesses and productive investment.
Andrew Mamedu, country director of AAN, made the call in a statement made available to the journalists on Monday in Abuja.
Reacting to the World Bank’s October 2026 Nigeria Development Update, which put Nigeria’s Gross Domestic Product (GDP) growth at 4.2 per cent, Mr Mamedu said more efforts were needed to ensure that economic growth improved living conditions.
He called for policies to support economic expansion, control inflation, improve access to affordable energy, promote decent wages and ensure accountability in public spending.
Mr Mamedu urged governments to strengthen security in farming communities and along transportation routes to support agricultural production, trade and food security.
He also called for investment in electricity generation, transmission, distribution and renewable energy to reduce production costs, support industries and create employment opportunities.
On small businesses, Mr Mamedu advocated improved access to affordable financing, a review of business levies and targeted support for women- and youth-led enterprises.
He further urged governments to encourage investment in manufacturing, agriculture, technology and renewable energy, with emphasis on job creation, local value addition and sustainable economic development.
Mr Mamedu acknowledged the improvements in Nigeria’s economic performance highlighted in the World Bank report but said their impact on household welfare remained an important consideration.
Quoting the report, he said Nigeria’s real GDP grew by 4.2 per cent in the first half of 2026, compared with 3.9 per cent in the corresponding period of 2025.
“Federation revenues rose 69 per cent in real terms between 2023 and 2025, while state government revenues rose by about 93 per cent. External reserves also exceeded $54 billion in September 2026.
“The report also noted that improved macroeconomic growth has helped stabilise Nigeria’s poverty rate for the first time since 2019, effectively halting its upward trajectory,” he quoted the report as saying.
However, Mr Mamedu said stabilising poverty did not necessarily mean that poverty levels had declined, adding that rising living costs continued to affect many households.
He said economic progress should also be assessed through indicators such as employment, household purchasing power, poverty reduction and access to essential services.
“We acknowledge the improvements in Nigeria’s economic indicators, but economic growth must mean more than impressive figures in government reports.
“When revenues rise, but families cannot afford food, transportation, healthcare and education, we must ask who benefits from that growth.
“The true measure of economic progress is not how much money government generates, but how many Nigerians are lifted out of poverty,” he said.
Mr Mamedu also called for increased investment in education, healthcare and social protection, as well as transparent public expenditure tracking and measurable poverty-reduction targets.
He said economic policies should improve access to essential services, strengthen household incomes and expand employment opportunities, especially for women, young people and vulnerable communities.
Mr Mamedu added that improved economic indicators should be accompanied by measures that address the cost of living and promote inclusive development.
(NAN)
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