The Nigerian Employers’ Consultative Association has warned that with the 2027 general elections approaching, there is a risk that the discipline required to consolidate fiscal and monetary reforms may weaken.

The Director General of NECA, Mr Adewale-Smatt Oyerinde, while speaking during an exclusive interview with The PUNCH in Lagos, stated that political transitions typically introduce uncertainty and policy reversals.

According to him, rising fuel and food prices could exacerbate household hardship, intensifying social pressures. Oyerinde added that economic shocks may amplify social instability if rising fuel and food prices worsen household hardship.

“Under an extreme price spike scenario of $140–150/bbl (for crude), fuel-driven inflation could reverse recent disinflation gains and force prolonged monetary tightening. With the 2027 general elections approaching, there is a risk that the discipline required to consolidate fiscal and monetary reforms may weaken. Political transitions typically introduce uncertainty and policy reversals,” Oyerinde stated.

He stressed that as the creative economy, fintech, and digital services continue to expand, states that build creative districts with studios, equipment leasing support, and grants tied to hiring apprentices can transform Nollywood and music into structured employers.

He reiterated that the removal of subsidies and the push for alternative energy create opportunities in solar installation, mini-grid deployment, and energy efficiency services.

“The fiscal space created by higher oil revenues, if managed transparently, could support infrastructure investment that unlocks productivity gains across sectors. The African Continental Free Trade Agreement and the need for import substitution create opportunities for manufacturing if supported by the right policies, stable power, accessible credit, and streamlined regulations,” he added.