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As the 2027 general elections near, Chairman/Founder, Abuja Chamber of Commerce and Industry (ACCI) Business Entrepreneurship, Skills and Technology (BEST) Centre, Prof. Adesoji Adesugba, has expressed concerns over the sustainability of economic reforms, with policy reversal, fiscal indiscipline.
Adesugba said these concerns were identified as potential threats to the country’s ambition of building a $1 trillion economy.
Adesugba noted this at the 20th Anniversary of the Commerce and Industry Correspondents Association of Nigeria (CICAN) conference with theme: “Celebrating Two Decades of Impact, Shaping the Future of Commerce and Industry”.
He said the pre-election periods often created incentives for governments to relax fiscal controls, increase spending and reconsider difficult reforms in response to political pressures.
According to him, maintaining policy consistency will be critical to sustaining investor confidence, stabilising the economy and consolidating the gains of ongoing reforms.
He urged the Federal Government to secure a clear, bipartisan commitment to the central elements of its economic reform programme, particularly the market-determined exchange-rate system, the new tax framework and fiscal discipline.
He said such a commitment, would provide investors with greater certainty that essential reforms would remain in place beyond the election cycle, reducing concerns about sudden policy shifts.
“Another priority is the institutionalisation of fiscal and monetary policy coordination to strengthen macroeconomic stability.
“The Monetary Policy Committee has welcomed a renewed framework for aligning fiscal and monetary actions,” he said.
He said the framework should be formalised, publicly disclosed and subjected to periodic reviews to ensure accountability and consistency.
Adesugba warned that without effective coordination, excessive government borrowing, deficit monetisation and conflicting policy decisions could undermine efforts to reduce inflation and stabilise the currency.
He said formalising the framework would also help clarify the responsibilities of fiscal and monetary authorities while improving transparency in economic management.
In his welcome address, the Chairman of CICAN, Mr Gabriel Kuma, said the association stand at twenty, more experienced, more conscious of our responsibilities and better positioned to make a meaningful contribution to Nigeria’s economic development.
“The real test will be what we do when we leave this hall.Will government communicate more openly? Will agencies engage more constructively?
“Will industry invest more confidently in informed public engagement? Will our partners do more to strengthen specialist journalism?
“Will CICAN members raise the bar of professional excellence, will we, together, create a stronger connection between economic policies and the prosperity Nigerians deserve?,” he said.
He said CICAN was ready for that challenge.
Kuma said CICAN had learnt to navigate the difficult terrain of journalism, to engage institutions.
He assured that the association understand the complexities of economic policy and to appreciate that reporting commerce and industry required much more than recording figures, announcing policy decisions or reproducing official statements.
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