The report is tagged “Nigeria Private Sector Outlook 2026: The Productivity Imperative for Nigerian Businesses.” According to the report, “market-centric pressures and digital vulnerabilities now eclipse traditional macroeconomic anxieties,” with “Loss of Customers and Clients” ranked as the most likely threat in 2026. The group said this trend reflects “anticipatory adjustments to eroding purchasing power and volatile demand patterns.” The NESG said competition is also intensifying, while cybersecurity risks are rising in tandem with digital adoption. The group noted that businesses are facing “dual pressures from customer attrition and influxes of local startups and low-cost imports,” forcing firms to compete more aggressively on pricing and brand strength.

The report stated that “Cyber and Information Breaches are rated 5.0, emblematic of heightened exposure as firms digitise through cloud infrastructure, making them prime targets for ransomware and data exfiltration.” It added that these risks now “surpass many physical disruptions.” The NESG also highlighted structural challenges, including talent shortages, supply chain disruptions and project execution difficulties, all rated at moderate levels. The group pointed to the ongoing migration trend, noting that the ‘Japa’ exodus continues to drain skilled labour,” while infrastructure gaps continue to weaken logistics and delivery capacity.

Looking ahead, the NESG urged companies to adopt more aggressive strategies to remain competitive. “The transition into 2026 demands that private-sector leaders move beyond a mere survival mindset towards an aggressive, strategic decoupling,” the report stated. It recommended investment in off-grid energy and diversified financing, noting that “by securing independent power and diversifying funding sources, firms can finally break through the production ceilings that have historically limited their scale.” On human capital, the NESG warned that talent shortages pose a “foundational risk that cannot be ignored.” The group urged firms to prioritise “Talent Shielding” through better compensation and automation to counter the effects of brain drain.

Delivering the keynote address virtually, the Minister of Finance and Coordinating Minister of Economy, Taiwo Oyedele, hinted on the Federal Government plans to deepen the role of the private sector in shaping and executing economic policy, introducing a new framework that positions businesses not just as stakeholders but as co-drivers of growth. He unveiled what he described as a shift from traditional public-private partnerships (PPP) to a broader “public policy–private partnership” model, aimed at aligning government reforms more closely with real sector outcomes. “We are familiar with PPP, public-private partnership, but I think we also need public policy–private partnership,” Oyedele said.

According to Oyedele, while reforms have helped stabilise key macroeconomic indicators, including exchange rate alignment and improved revenue performance, they are yet to translate into broad-based economic gains. “Reforms on their own do not create growth. We need investment at scale,” he said, adding that investment decisions are driven less by policy announcements and more by confidence in consistent and predictable implementation.