How Can Africa Unlock Sustainable Economic Growth in 2026? — Nigerian Expert Names Pragmatic Steps
How Can Africa Unlock Sustainable Economic Growth in 2026? — Nigerian Expert Names Pragmatic Steps
Success lies in balancing macroeconomic stability with tangible investments that benefit ordinary citizens, Nigerian author and financial consultant Dr. Shagon Obasun emphasized, drawing lessons from Nigeria's recent reforms.
In an interview with Sputnik Africa, Dr. Obasun highlighted four priority areas for governments across the continent:
🟠Sequenced Reforms with Social Protection: Economic reforms—such as subsidy removal or currency adjustments—must be carefully phased and paired with direct support for vulnerable households to prevent widespread impoverishment and maintain public trust.
🟠Public Investment that Catalyzes the Private Sector: Governments should focus spending on infrastructure that stimulates private investment, such as rural roads, reliable power for industries, and logistics like cold storage and rail networks.
🟠Institutional Transparency: Regularly publishing data on debt, revenues, and fiscal operations builds credibility with both markets and citizens.
🟠From Stabilization to Industrial Policy: Once macroeconomic stability is achieved, countries should develop and support local value chains in agro-processing, light manufacturing, and services to create durable, job-rich growth.
Moreover, economic diversification—into agro-processing, regional manufacturing, and digital services—is essential to shield African economies from commodity shocks and global downturns, Obasun stressed.
"The broader principle for other African countries is simple," he concluded. "Pair credible macro policy with visible pro-poor investment. That combination will strengthen resilience and sustain reform momentum."
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