Rethinking Economic Stabilisation Reform Strategies in Nigeria

Abstract

This paper examines Nigeria's economic stabilisation efforts in 2024, highlighting the challenges encountered, the progress made, and the strategic adjustments necessary for sustained stability in 2025 and beyond. It sets the stage for re-evaluating Nigeria's approach to economic stabilisation by outlining key strategic directions critical to achieving and maintaining macroeconomic balance. Particular attention is given to the importance of establishing a sustainable economic framework that aligns short-term policy actions with long-term development goals, ensuring the economy is better equipped to absorb shocks. The article also highlights essential reforms and proposes a strategic roadmap aimed at building economic resilience and promoting inclusive growth. It stresses that the proposed reform priorities, if delayed or reversed, could prolong the achievement of economic stabilisation, with significant negative impacts on
households, businesses, and the government.