Michael Ervin, Political and Economic Section Chief, United States Consulate General, Lagos, has commended the Nigerian government for its ambitious economic reforms, describing them as encouraging and directionally positive, even though their full benefits are yet to be felt across the economy.
Ervin made this known while delivering his presentation at the Nigerian-American Chamber of Commerce (NACC) Annual Breakfast Roundtable on Nigeria’s Economic Outlook in Lagos recently according to a statement made available to BusinessDay.
He said the reforms embarked upon by the Federal Government are beginning to reshape investor perception, noting that both foreign and local investors are now watching Nigeria more closely and with growing optimism.
According to him, Nigeria’s recent designation by the United States has also opened fresh windows of opportunity for deeper bilateral collaboration, particularly in addressing insecurity challenges, which he described as a major obstacle to economic development and investment inflows.
“This designation creates new opportunities for Nigeria and the United States to collaborate more effectively in tackling insecurity, which remains a critical economic constraint. Improved security outcomes will unlock stronger investor confidence, trade flows, and economic growth,” Ervin stated.
He reaffirmed the commitment of the U.S. government to strengthening economic and commercial relations with Nigeria through platforms such as the U.S.–Nigeria Commercial and Investment Dialogue, the Bi-National Commission, and other strategic partnership initiatives.
Earlier in his welcome address, Alhaji Sheriff Balogun, National President and Chairman, Board of Directors, NACC, said the breakfast meeting was convened at a critical moment of economic transition, stressing that “investors seek clarity, businesses seek predictability, and policymakers seek credible feedback from the private sector, and this Chamber exists precisely to provide that bridge.”
Balogun added that sustained dialogue between policymakers, investors, and business leaders remains essential for building confidence, strengthening reforms, and unlocking new trade and investment opportunities.
Also speaking at the forum, Tayo Aduloju, Chief Executive Officer of the Nigerian Economic Summit Group (NESG), projected a 5.5 per cent GDP growth for Nigeria in 2026, identifying ambitious private sector investment as a central pillar of the country’s economic outlook.
Aduloju said Nigeria’s medium-term growth prospects depend significantly on the scale, depth, and quality of private sector participation, supported by policy coherence, regulatory certainty, and sustained reforms.
“Achieving a 5.5 per cent GDP growth in 2026 will require more deliberate and ambitious private sector investments across key sectors of the economy. Beyond investment, the private sector must also shape policy conversations that influence trade, capital flows, and economic diplomacy,” he said in the statement.
He advised that stronger business voices must be inserted into bilateral economic engagements between Nigeria and the United States, urging the Nigerian-American Chamber of Commerce to deepen its role as a strategic bridge for business-to-business and policy-driven engagement.
“We must rely on the NACC to do more in amplifying private sector participation in the Nigeria–U.S. economic conversation. The Chamber occupies a unique position to drive this engagement and convert policy dialogue into concrete investment outcomes,” Aduloju added.
The event, which attracted senior government officials, diplomats, business leaders, economists, and investors, provided a robust platform for discussions on Nigeria’s 2026 economic outlook, fiscal reforms, and evolving trade relations with the United States.
