Nigeria’s economy proven case of resilience – Adedipe

Economist, Professor Biodun Adedipe, has described Nigeria’s economy as a “proven case of resilience,” insisting that the economy has stabilised in the last one year.

Adedipe who is the Chief Consultant, B Adedipe Associates said the next stage for the economy is growth acceleration for the gains of the economic stability to trickle down to the people.

He spoke in Lagos during a two-day Business, Economy and Financial Reporting Training Organised by Premium Times Academy in collaboration with the Central Bank of Nigeria (CBN).

The training featured several topics on Nigeria’s economy, analysis of Nigeria’s banking system, the current reforms by the Olayemi Cardoso-led CBN, the monetary policy tools, as well as verification and fact-checking methods.

Adedipe, represented by Akinsoto Benjamin, who spoke on Overview of Nigeria’s Economic System described the economy as a proven case of resilience, saying the economy was able to weather the storms of global economic disruptions.

Despite the global economic headwinds triggered by disruptions like the Ukraine War, the pandemic, climate change, energy transition, among others, Nigeria’s economy is on a growth trajectory as the recent gross domestic product (GDP) figure indicated.

“We are on a growth trajectory based on the GDP data,” he said, adding that inflation rate has also been easing and it is projected to ease further.

He hailed the CBN for its determined focus on price stability in order to achieve a single-digit inflation target as even as he projected that inflation would decline to 9.84 in 2026, adding that the foreign exchange has equally stabilised.

However, the Professor of Practice at James Hope University insisted that the next stage is growth acceleration to ensure Nigerians feel the impact of the economic reforms.

“Economy has stabilised. What we need now is growth acceleration. The traction has not trickled down to the micro level. That will happen when we accelerate,” he stated.

He highlighted that the good thing about the present administration is the fact that “they are intentional about the economy.”

He stated that inflation is expected to push down the MPR to 22.50, adding that the projected inflation rate of 9.84 in 2026 would be premised on the current “tightening by the CBN, effects of tax reforms if implemented and tamed supply-side bottlenecks and rebased inflation rate.”

Adedipe however noted that the strength of economic analysis is the availability of data, charging the media to professionalise their reportage by sticking to the orthodox interpretation of data, rather than “primordial sentiments and biases.”

Editor-in-Chief of Premium Times, Mr. Musikilu Mojeed tasked journalists to acquaint themselves with relevant data to enrich their reportage. He highlighted a list of open-source resources that would aid the reporting of business and economy by financial journalists.

According to him, reliable information is the foundation of sound decisions. “When data is open and accessible, insight becomes possible — and accountability becomes inevitable,” he said.

On his part, Chief Executive Officer, Centre for Financial Journalism, Dr. Ray Echebiri described the Nigerian financial system as highly regulated.

He said the journalists have a responsibility to act as watchdog, educators, mediators of trust in the system as the financial system is central to the overall growth and development of the economy and the wellbeing of the citizens.

Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder, click here to find out how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.