Private Sector Welcomes Nigeria’s GDP Growth but Says Recovery Is Not Secure

Nigeria’s stronger second-quarter growth has encouraged business groups, but they are warning against treating the latest GDP figure as proof that the economy has recovered. Real GDP expanded 4.43 percent, compared with 3.89 percent in the first quarter and 4.23 percent in the same period of 2025.

“

The improvement from 3.89 per cent recorded in the preceding quarter and 4.23 per cent in the corresponding period of 2025 is an encouraging signal that economic activity is gradually gaining momentum.

The Abuja Chamber of Commerce and Industry called the result an encouraging signal that activity was gradually gaining momentum. Director-General Agabaidu Jideani said agriculture, services, oil and the wider non-oil economy all contributed to the performance, which he described as evidence of resilience and early results from ongoing reforms.

For businesses, however, the headline number is only the beginning. The chamber said the more important test would be whether growth leads to higher productivity, business expansion, new jobs, increased investment and better living standards.

“

It demonstrates a measure of resilience and suggests that ongoing economic reforms and increased economic activity are beginning to yield measurable outcomes.

Companies continue to face high operating costs, energy constraints, limited access to affordable finance, infrastructure deficits and logistics bottlenecks. Households also remain under pressure from reduced purchasing power. The chamber raised particular concern about a slowdown in parts of the industrial sector and called for sustained attention to manufacturing and other activities that can generate jobs and strengthen domestic value chains.

“

While the GDP growth figure is encouraging, it would be premature to conclude that the Nigerian economy is completely out of difficulty.

Jideani urged the government to build on the momentum by improving infrastructure, addressing energy problems, supporting local production, expanding finance and adopting policies that attract private investment. His warning was direct: “While the GDP growth figure is encouraging, it would be premature to conclude that the Nigerian economy is completely out of difficulty.”

“

The real test of economic recovery lies in whether this growth translates into improved productivity, business expansion, job creation, increased investment and better living standards for Nigerians.