LAGOS: Nigeria saw a notable improvement in macroeconomic stability in the first quarter of 2026. Inflation eased and the naira stayed steady, according to the Centre for the Promotion of Private Enterprise (CPPE).
Dr. Muda Yusuf, founder of CPPE, said this quarter marked a turning point. He explained that foreign exchange reforms and stricter monetary policy helped restore confidence.
Inflation dropped from over 24 percent in early 2025 to 15.06 percent by February 2026. The naira traded in a narrow range between ₦1,340 and ₦1,430 to the dollar in the official market.
External reserves rose above $50 billion, supported by stronger oil earnings and better liquidity. GDP grew by 3.87 percent in 2025, and business activity indicators continued to show expansion.
Yusuf cautioned that structural challenges remain. High energy costs, insecurity, and weak consumer demand are still affecting productivity.
He warned that global crude prices, now above $100 per barrel because of tensions in the Middle East, could reverse the drop in inflation and make the cost of living worse.
He encouraged officials to build on current reforms. He suggested streamlining regulations, fixing infrastructure and administrative issues, and taking steps to protect vulnerable households.
He also advised businesses to create strong resilience plans, improve efficiency with technology and training, and set up risk control systems with regular scenario reviews.
