CPPE Urges FG to Prioritise Agriculture and Industry

The Centre for the Promotion of Private Enterprise (CPPE) has urged the Federal Government to prioritise urgent interventions in agriculture, manufacturing, construction, real estate, and trade in order to transform Nigeria’s current growth momentum into a more resilient, inclusive, and job-creating economy.

In a policy brief on Nigeria’s second-quarter 2025 GDP report, the Chief Executive Officer of CPPE, Dr. Muda Yusuf, said that while the economy is showing signs of stronger recovery, structural reforms are necessary to translate growth into jobs, poverty reduction, and shared prosperity.

He stated:

“Q2 2025 is a clear statement that Nigeria’s economy is moving beyond stabilisation toward a stronger recovery. But to translate this growth into jobs, poverty reduction, and shared prosperity, the focus must shift to unlocking productivity in agriculture, manufacturing, construction, real estate, and trade — the sectors that touch the lives of most Nigerians.”

Nigeria’s economy grew by 4.23 per cent year-on-year in Q2 2025, compared to 3.13 per cent in Q1 and 3.48 per cent in the same quarter of 2024. CPPE noted that while oil and gas recorded a sharp expansion of 20.46 per cent, its contribution of just 4.05 per cent to GDP highlights the need for stronger non-oil sector growth.

According to Yusuf, agriculture rebounded to 2.82 per cent from 0.07 per cent in Q1 but continues to face structural challenges such as weak infrastructure, low mechanisation, and insecurity. Manufacturing slowed to 1.60 per cent due to high production costs, forex instability, and import dependence, while construction moderated at 5.25 per cent following delays in infrastructure projects.

He stressed that sustaining growth momentum will require reducing energy and logistics costs, scaling up infrastructure investment, expanding affordable credit for farmers and MSMEs, and boosting local content and import substitution.

Trade and real estate also recorded modest growth at 1.29 per cent and 3.79 per cent, respectively — both of which, Yusuf noted, are labour-intensive sectors that need targeted policy support.

He concluded that consistent reform implementation, improved governance, and strong private sector collaboration are critical to ensuring that Nigeria’s economic growth delivers inclusive prosperity.