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Nigeria must urgently pursue deep structural reforms to avoid an employment crisis by the end of the decade as its working-age population is projected to surge to 168 million by 2030, the Nigerian Economic Summit Group (NESG) has said.

The Group highlighted this on Monday during the launch of its landmark report at the ongoing 31st Nigerian Economic Summit (NES#31) in Abuja.

The report, titled From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria, emphasizes the urgent need for a national agenda to create 27 million formal jobs by 2030 – an average of 4.5 million jobs per year – to prevent rising unemployment as Nigeria’s population rapidly grows.

The NESG report paints a stark picture of Nigeria’s labour market, with over 90 percent of workers engaged in informal employment, and more than 80 percent are concentrated in low-productivity sectors.

Without significant reforms, the group warns, the country could face a doubling of unemployment and underemployment rates over the next five years, trapping millions in vulnerable, low-wage work.

‘This is not just a labour market issue; it is a huge development challenge,’ Wilson Erumebor, Senior Economist at the NESG, said during his presentation of the report.

‘Without decisive reforms to create decent and productive jobs, an entire generation risks being trapped in vulnerable work that neither lifts families out of poverty nor moves the nation forward.’

The report identifies five key challenges stifling productivity and job creation: a shallow private sector base, widespread skills mismatch, poor educational outcomes, growth concentrated in sectors that do not generate large-scale employment, and critical infrastructure gaps, particularly in power and logistics.

To address these constraints, the NESG has proposed the Nigeria Works Framework – a six-pillar strategy focused on improving productivity across the economy.

The framework includes investing in skills for productivity, driving sectoral engines of growth such as manufacturing and ICT, supporting enterprise-led growth, formalising the informal economy, strengthening institutions and data systems, and adopting productivity as a core national metric.

‘The challenge before us is to move decisively into the consolidation phase, embedding reforms in ways that drive jobs, growth, and inclusion, while simultaneously laying the foundations for long-term transformation that secures prosperity for every Nigerian,’ Niyi Yusuf, Chairman, NESG said.

The report singles out four sectors – manufacturing, construction, ICT, and professional services – as holding the highest potential for large-scale job creation and productivity growth.

The NESG argues that targeted investments and policy alignment in these areas can unlock significant employment opportunities, especially for Nigeria’s growing youth population.

A major human foible is the tendency to pursue symbolism at the expense of substance. It is not a particularly Nigerian flaw.

But the desperation that has characterised our politics, especially amongst the opposition, often makes it seem so. An example is the criticism of President Bola Tinubu’s inability to personally attend the recently-concluded 80th session of the United Nations General Assembly (UNGA 80).

Meetings are memorable, not just for the faces present, but also for the things said. Those who take unnecessary umbrage should look for something else to do with their time. The point should not be about the President’s presence or absence at the UNGA annual global event; it should be about the content, the quality of the country’s national statement and the President’s message at that extraordinary gathering of world leaders.

Held under the theme, ‘Global Partnerships, Local Prosperity,’ this year’s session of the United Nations provided a platform for Nigeria’s leaders to promote reforms, woo investors, and assert Africa’s place in global decision-making, international finance and trade.

Vice President Kashim Shettima led the Federal Government delegation to the talks. As he did last year at the behest of President Tinubu, the vice president was in his best elements as he delivered Nigeria’s national statement on Wednesday, September 24, on that global platform.

In that national statement, President Tinubu restated his advocacy over which he had been vocal and consistent: reform of the world body to include a permanent seat for Africa, particularly Nigeria, at the UN Security Council; nuclear disarmament; equitable access to global trade and finance; debt forgiveness; and climate justice, among others.

President Tinubu is passionate about these issues and never misses any opportunity to highlight them. The President has utilised every forum, including the 78th UNGA, which he attended a few months after his inauguration in 2023, and the Conference of the Parties (COP28) in Dubai, United Arab Emirates, in 2024, to advocate for these demands strongly.

He restated them in the message delivered by Vice President Shettima in 2024 at the 79th session of UNGA and in his message to a meeting of the Non-Aligned Movement in 2024 in Kampala, Uganda, among others.

President Tinubu must underscore these issues repeatedly in a bid to promote global peace, stability, and economic growth. The continental imbalance in representation at the UN, the imbalance in international trade among the regions, the Israeli genocide in Gaza, wars and threats of war in some parts of the world, among other agonising global issues, deserve to be stated, restated and frontally tackled.

Delivering Nigeria’s national statement, Vice President Shettima said: ‘We are here to strengthen the prospect for peace, development, and human rights. Madam President, I would like to make four points today to outline how we can achieve this. First, Nigeria must have a permanent seat at the UN Security Council.

This should take place as part of a wider process of institutional reform. Second, we need urgent action to promote sovereign debt relief and access to trade and financing. Third, the countries that host minerals must benefit from those minerals. And fourth, the digital divide must close.

As our Presidential Secretary-General has said, ‘AI must stand for Africa Included.’ Expatiating on this, he said the United Nations would recover its relevance only when it reflects the world as it is, not as it was. ‘Nigeria’s journey tells this story with clarity. When the UN was founded, we were a colony of 20 million people, absent from the tables where decisions about our fate were taken.

‘Today, we are a sovereign nation of 236 million people, projected to be the third most populous country in the world, with one of the youngest and most dynamic populations on Earth, a stabilising force in regional security, and a consistent partner in global peace-making.’

The Vice President followed up his presentation with a meeting with the UN Secretary-General, Antonio Guterres, where he further reiterated the demands. Given the UN Secretary-General’s temperament and positive posture towards reforms, Nigeria’s demands must have struck a resonant chord. Elected Secretary-General in October 2016, succeeding Ban Ki-moon, Guterres reformed the UN and addressed multiple global refugee crises.

On the sidelines of the 80th UN session, Vice President Shettima addressed a Global Champions Roundtable on Housing, led bilateral talks with investors on agriculture, solid minerals, and technology, and engaged with Nigerians living in the United States.

Two other important side events, among others, took place on the sidelines of UNGA 80 leaders’ talks. One was put together by the Minister of Trade and Investment, Dr. Jumoke Oduwole, to showcase investment opportunities in Nigeria and demonstrate that the country is ready for business.

The other, the 2nd Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, which Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, chaired, stood out this year. The vice president attended both events and delivered important statements on behalf of President Tinubu.

At the first event, the consensus was that Nigeria has become one of the best places to invest, given its reform momentum and investment profile-namely, a large consumer market of over 200 million people, an over $280 billion economy, the largest in West Africa, and a 4.23% GDP growth rate that is still accelerating, among other things. President Tinubu, in a message delivered by VP Shettima, canvassed a total re-drawing of the global financial architecture for Africa’s mineral resources, saying it was time for its nations to begin not only financing their mineral sector but also asserting their influence and power in the global supply chains of African products.

According to the President, this has become necessary if the sovereignty of African nations is to be protected. He recommended collective action by development allies and partners to bring Africa’s mineral economy to reality for the benefit of the continent and its people. It was just as imperative for Alake, Solid Minerals’ minister and AMSG’s chair. He called for cohesion among African nations, saying that with a determined focus and a reinvigorated sense of partnership and transparency in the minerals sector, Africa will harness the benefits of a sustained, deepened, and well-harmonised mineral sector in all ramifications.

‘These resources are indispensable for global sustainable development and remain catalysts for Africa’s rapid industrialisation,’ he said.

Indeed, from the intermittent applause that greeted the delivery of Nigeria’s national statement on the floor of the UN General Assembly and the overwhelmingly favourable response to the country’s presentations and positions on issues canvassed at the side events held on the margins of the conference, there was little doubt that Nigeria’s messages resonated well at UNGA 80.

LG Electronics (LG) has been recognized with 17 awards at the inaugural IFA 2025 Innovation Awards, including the top distinction, Best of IFA title. Established this year, the awards celebrate products that set new benchmarks in innovation, technology, design and market impact. With over 1,800 participating companies, winners were selected in 16 categories, including Mobility, Home Appliances, Home Entertainment, Design and Smart Home. The highest honors – Best of IFA, Best Tech Innovation and Best Brand – were reserved for the most outstanding entries.

The LG SIGNATURE OLED T, the world’s first wireless transparent TV, earned the Best of IFA award, underscoring LG’s leadership in advanced television technology. The groundbreaking product also won Best in Home Entertainment, achieving a double win at this year’s awards.

In addition to securing the Best of IFA title, LG received five Category Best awards in Mobility, Accessibility, Home Appliances and Home Entertainment, along with 11 Category Honoree recognitions in Home Appliances, Design, Smart Home and Home Entertainment. Collectively, these distinctions strengthen the company’s reputation as a global innovation leader and trusted industry pioneer.

In Mobility, LG’s Spielraum received the Best in Mobility award. This AI-powered mobility space solution blends personal wellness with multi-sensory experiences. Its compact cabin integrates built-in appliances, LG ThinQ ON and entertainment features, introducing a new mobility-linked lifestyle that expands the LG AI Home concept.

In Accessibility, LG’s Comfort Kit was named Best in Accessibility Focused Product. Designed to improve usability for people of all ages and abilities, it highlights LG’s focus on inclusive design.

In Home Appliances, LG’s AI Sense Clean Dishwasher and Microplastic Filter claimed the Best in Home Appliances award. The dishwasher’s intelligent wash system optimizes cycles and wash time based on load size and soil levels, while the filter removes microplastics released during the laundry cycle, combining convenience with environmental responsibility.

In addition to securing multiple Category Best awards, LG was also given Honoree distinctions across a wide range of fields, from Home Appliances to Smart Home, further underscoring its competitiveness in the global market. In the Best of Home Appliances category, LG earned four Honoree recognitions for its cutting-edge laundry and cleaning solutions, each boasting advanced performance with thoughtful design. The LG WashTower simplifies laundry with intuitive controls and AI-powered features, while the Washer and Dryer with Heat Pump enhances efficiency with reduced energy consumption. For floor care, the LG Robot Vacuum with Built-in Station features an auto-opening door that conceals the unit when not in use, and the LG Wet and Dry Stick Vacuum Cleaner employs AI Roller Control to sense movement direction, helping reduce wrist strain.

‘Winning 17 honors, including the prestigious Best of IFA award, is a strong validation of LG’s leadership in innovation and customer-focused solutions, said Mr. Hyoung Sub Ji, Managing Director, LG Electronics West Africa. For us in Nigeria and across Africa, it reinforces our promise to deliver technology that is not only advanced, but also meaningful to everyday life. We want consumers to see LG as the most trusted brand, one that consistently exceeds expectations and makes life better in every home.’

The company also received four Honoree awards in the Best in Design category for products that blend style and functionality. The Washer and Tumble Dryer Pair and TrueSteam Dishwasher present refined designs that integrate seamlessly into modern kitchens. The Next LG Massage Recliner complements living areas with its elegant aesthetics, while the LG Styler Mini offers a compact, premium solution that maximizes functionality in smaller spaces.

Designed to fit effortlessly into connected home ecosystems, the LG Robot Vacuum with Objet Station was acknowledged in the Best in Smart Home category. With automated docking, smart scheduling and ThinQ compatibility, it showcases LG’s expertise in building cohesive, AI-driven home solutions.

Furthermore, LG received recognition in the Home Entertainment category with Honoree awards for the LG Wireless OLED TV (M5) and the LG StanbyME 2, reinforcing the company’s global leadership.

For Nigerian consumers, these awards are a reassurance that every LG product purchased locally carries the same global standard of excellence, innovation, and trust.

AWARI, Nigeria’s lifestyle discovery platform, has secured a funding boost to scale its mission of transforming urban discovery and supporting lifestyle businesses across Africa ahead of Detty December, the country’s peak entertainment and tourism season.

The funding round, which surpassed the company’s previous pre-seed raise, was led by the Lagos Angel Network (LAN) and supported by a network of strategic investors.

Founded by entrepreneur Tannaz Bahnam, AWARI connects users with local lifestyle businesses – including restaurants, spas, gyms, shops, and events – while providing business owners with tools for visibility, bookings, loyalty management, and data-driven growth.

With over 2,450 businesses already listed across Lagos and Abuja, AWARI is redefining how residents and visitors experience Nigerian cities.

Speaking on the new funding, Bahnam, said the investment will help the company deepen its impact and strengthen its role in supporting urban living and SME growth.

‘AWARI was built to transform the way people experience their cities while helping lifestyle SMEs grow sustainably,’ she said.

‘With the support of the Lagos Angel Network and other visionary investors, we are doubling down on developing tools to strengthen communities, empower businesses, and improve everyday urban life,’ she explained.

‘And with Detty December quickly approaching, now is the ideal time for businesses to join AWARI and gain visibility during Nigeria’s peak lifestyle season,’ she added.

According to the company, the new funding will be used to scale its event ticketing platform and loyalty program, drive business engagement and user downloads ahead of Detty December and enhance its technology and content operations as it prepares to expand into Ghana, Morocco, and Qatar within the next year.

The development builds on Bahnam’s 15-year experience connecting consumers and businesses through Lost in Lagos, Nigeria’s longest-running lifestyle platform.

Through Lost in Lagos Plus magazine and its popular Restaurant Week series, Bahnam has established a strong track record of curating city experiences and supporting local enterprises.

Yemi Keri, chairperson of the Lagos Angel Network, described the company’s growth as a positive sign for Africa’s digital and SME ecosystem.

‘We are excited to support AWARI as it shapes the future of urban discovery in Africa,’ Keri said.

‘AWARI is creating real value for SMEs by helping them increase visibility, attract new customers, and thrive in competitive urban markets.’

Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy, has launched the Guide to Accessing Climate Finance, positioning the country to tap into the $2 trillion global climate economy and signaling a shift toward green, resilient, and inclusive growth.

Edun, while unveiling the guide at the 31st Nigerian Economic Summit in Abuja on Monday, described the rise in climate finance as the ‘biggest opportunity of the moment,’ urging Nigeria’s public and private sectors to act quickly or risk being left behind.

The document, developed in partnership with the UK Government through the PACE programme and the Ministry of Budget and Economic Planning, aims to help stakeholders-from ministries to MSMEs-unlock capital for climate-smart infrastructure, energy, and adaptation projects.

‘Climate spending reached $2 trillion in 2024. That’s where the money is. Nigeria cannot afford to stand on the sidelines,’ Edun said, outlining a vision that links climate action with economic competitiveness, job creation, and fiscal stability.

He emphasized that climate change is no longer a distant risk but a reality across Nigeria, from flooding in Makurdi to drying farmland in Sokoto requiring a coordinated response beyond policy statements. He described the guide as a practical tool to access ‘smart capital’ for green innovation, infrastructure, and job creation.

At the center of this effort is a newly created Green Growth Finance Coordinating Unit within the Ministry of Finance, designed to align Nigeria’s fiscal policies with its climate goals and improve the quality of bankable projects.

Edun acknowledged a key challenge: the shortage of investment-ready proposals, which has limited Nigeria’s access to global funds.

He announced plans to expand Nigeria’s sovereign green bond programme to include state-level issuances, supported by credit guarantees and risk-sharing mechanisms to attract private capital.

The government is also integrating climate goals into national and subnational budgeting and strengthening institutional capacity to meet international fund accreditation standards.

Referring to national initiatives such as the Distributed Access Renewable Energy (DARE) Scalar, which aims to provide power to 17.5 million Nigerians through off-grid solutions, and Mission 300-a continent-wide programme backed by the World Bank and AfDB to connect 300 million Africans to electricity-Edun positioned Nigeria as a major beneficiary.

The country’s carbon markets initiative is expected to unlock $2.5 billion in finance and create more than two million green jobs by 2030.

He commended the Development Bank of Nigeria for securing Green Climate Fund accreditation and pledged support for other institutions to do the same, highlighting transparency and coordination as essential to delivering measurable impact. Nigeria will continue to engage global partners at platforms such as the World Bank, IMF, AfDB, G20, and COP30 in Brazil next year.

Edun linked climate action to inclusive growth, noting, ‘Everyone who can switch has switched to solar. These technologies are now mainstream. We must ride this wave. It is not a burden-it is an investment in our youth, our economy, and our future.’

Ifeanyi Ugwuoke, national team leader of the Partnership for Agile Governance and Climate Engagement (PACE), also launched the Guide to Accessing Climate Finance during the summit, aiming to improve Nigeria’s access to climate funding.

Ugwuoke highlighted the importance of financing in addressing climate change, describing it as an existential threat that requires adequate funding for effective action.

The guide serves as a resource for state governments and eco-friendly businesses seeking to access available global and local climate finance. While these funds exist, Ugwuoke noted that access depends on meeting specific eligibility criteria, which the guide helps users understand.

He explained that the guide outlines 18 investable climate funds and provides tools for assessing readiness, meeting funding conditions, and developing strategies to secure and use the funds. Ugwuoke noted that Nigeria is already facing the effects of climate change, including flooding, desertification, deforestation, and waste management challenges-areas requiring urgent investment in sustainable infrastructure.

Ugwuoke stressed the need for coordinated efforts, stating that building climate-resilient systems depends on targeted financing. He added that while the launch is a key step, the next phase involves making the guide available through an online platform for use by public and private stakeholders.

PACE will also offer technical support under its National Fragile Governance and Climate Engagement Program to help governments and businesses conduct assessments, identify gaps, and develop responses to access funding.

Ugwuoke urged stakeholders to act, saying the guide is not just a document but a tool for action. With it now available, leaders must respond to the challenges of climate change.

The guide is now available through the PACE online platform and government portals.

Nigeria’s crude oil production is expected to hit a total of 1.8 million barrels per day in December, according to Bayo Ojulari, the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL).

Ojulari disclosed this while speaking with State House Journalists, in Lagos, after briefing President Bola Tinubu, at the State House, in Lagos, on Monday.

The NNPCL CEO, disclosed that he was at the State House to brief the President on developments in the oil sector, especially, on the progress in NNPC .

Ojulari said he briefed the President particularly, on crude oil production performance, as well as, progress being made in attracting investments into the sector.

‘As you recall the President gave us a clear mandate which is to grow production to at least 2 million bpd by 2027 and upto 3 million bpd by 2030 as well as grow gas production as well.

The NNPCL CEO who revealed that Nigeria is making good progress in crude oil production, recalled that ‘We recorded 1.68mbpd of oil production last month which was very good.

‘That was the first in about five years, in terms of milestone, we also recorded the highest gas production above 7BCF per day which is also the highest in recent times’

‘On the backdrop some turnaround maintenances, we have done in August and September, we are hoping that by the end of the year we should at least be clocking 1.8mbpd.’

He described the recent industrial dispute between the Dangote Group and members of the Petroleum and Natural Gas Workers PENGASSAN, as ‘unfortunate’, as it affected vital sectors of the oil and gas industry

‘It was unfortunate because, whenever there is strike, critical staff manning critical facilities are not available is almost impossible.

‘In this particular case we actually lost significant production of over 200,000 bpd that was differed we also have Gas production that was differed we also have power generation that was impacted about 1.2mega watts of power that was affected by that strike’

‘I think I’m very pleased that the Federal Government through the leadership of Minister of Labour and full support of NSA we were able to get everyone to dialogue and agree.

‘ Now there is a communique that has been agreed on. We are all very hopeful that everyone will abide by the communique.

He disclosed that crude oil production had since resumed to status quo.

‘ There has been one or two areas that we are still trying to catch up with, but on overall, we are gradually back.to restore lost production and the deferment that we have as of today.

He also described the recent increase in prices of gas and petrol as largely artificial, resulting from the recent industrial dispute, but assured that they will be adjusted

‘So, the increase you saw was relatively artificial because for the period of the strike quiet movement and loading were delayed for about two to three days and because of that you see that impact and as things returns to normal it takes sometimes for distribution to fully return and with that delay.

‘My expectations is that now that things are back to normal, prices should return to what they were before the strike.’

Atiku Bagudu, minister of Budget and Economic Planning has said that the Dangote Refinery must be supported by government and Nigerians to succeed in its operations in Nigeria.

Badugu who spoke at the ongoing 13th edition of the Nigerian Economic Summit (NES#13) in Abuja, said that the private sector now drives the Nigerian economy and must get the necessary support required to succeed as it has become an engine of growth.

He explained that the Dangote refinery, being a private enterprise must be encouraged to succeed.

This follows the recent dispute between Dangote Refinery and Petroleum and Natural Gas Senior Staff Association of Nigeria, which affected the activities of the refinery and as well as Nigeria’s oil and gas sector in general.

The minister stated that the nation’s development plan and policies acknowledges the place of private sector in Nigeria Economic development. ‘The Agenda 2050, which was approved in the year 2020, as well as the first of the six development plans that was anticipated in 2021-2025, made the private sector the key driver of the economy.

‘Indeed, it assigned as much as 86 percent of the plan size to the private sector. And this is not surprising, because even Chapter 2 of our Constitution, which guides the economic objectives of the country, have placed pride in a private sector-led economy.

The minister, speaking further stated that since inception, the Tinubu-led administration has been implementing bold, courageous reforms aimed at enhacing the economy, productivity and addressing insecurity.

He emphasized that these reforms were crucial to abating the fiscal crisis and laying the foundation for long-term, inclusive economic growth and development. ‘However, we recognize that reforms like this, not surprisingly, will come with short-term challenges for households as well as businesses. We are determined to stay the course and ensure that the challenges that hinder the achievement of our manifest destiny are confronted and addressed.

‘Our private sector has been a steady voice of support and synergy and interrogation.The government and private sector are partners in economic development. We no longer talk of the public sector dominating the commanding heights of the economy,’ he added.

Assessing the impact of the reforms, the Minister noted that positive trends have emerged in the economy, with real GDP has maintaining a steady growth trajectory, with the first quarter of 2024 recording a 2.98 percent increase, followed by 3.15 percent in the second quarter, 3.46 percent in the third quarter, and 3.48 percent in the fourth quarter.

The key implication of this result, he said, is the stabilisation of the macroeconomic environment, occasioned by the effectiveness and sustained policy implementation. He explained that higher GDP growth reflects rising domestic demand, increased business confidence and a more dynamic productive base.

Bagudu further explained that to build economic resilience, the government is prioritising job creation that drive productivity through improvement and support of different sectors, such as digital skills, creative economy skills, development of the blue and maritime sector, human capital development as well as agriculture, livestock and fisheries.

‘We are committed to a major and deliberate path forward, ensuring each step is meticulously assessed. We must therefore remain resolute in our current strategy.

‘Despite persistent inflationary pressures, recent data presents signs of moderation. Headline inflation measured year-on-year decreased to 20.12 percent in August 2025, a notable reduction from 32.15 percent in August 2023. This downward trend reflected in the newly rebased consumer price index, suggesting a gradual easing of cost of living.

‘Particularly significant is the deceleration in food inflation, which declined to 21.87 percent in August 2022, from a combination of measures in quotation to increase domestic production and the concern of Mr. President.

‘Mr. President has shown concern that having achieved lower food prices, we should invest more in domestic production to ensure that our farmers are rewarded without any further deceleration in inflation that comes from production gains. This trend will be sustained with deliberate policies to alleviate pressure on household budgets, stimulate consumer spending and create a more conducive environment for inclusive growth.

‘The reduction in inflationary pressure will also lead to a more predictable economic life and a higher chance of increased investment, both domestic and foreign,’ he said.

Abubakar Kyari, minister of Agriculture and Food Security, says Nigeria’s new climate-resilient rainfed wheat varieties will boost local production, reduce import costs, and strengthen food security.

Speaking at the Second National Rainfed Wheat Farmers’ Field Day in Kuru, Jos, Plateau State over the weekend, Kyari described the development as transformative, noting that wheat cultivation is no longer limited to irrigated areas.

He said farmers in Plateau, Taraba, and Cross River States can now grow wheat sustainably during the rainy season, a move that could help the country meet its domestic demand.

Kyari commended the Lake Chad Research Institute (LCRI) for developing the varieties and reaffirmed President Bola Tinubu’s commitment to making agriculture central to Nigeria’s economic transformation.

He noted that the Federal Government is expanding mechanization, financing, and partnerships to scale up rainfed wheat farming across the country. Over 2,000 tractors have been deployed under the Renewed Hope Mechanization Initiative, while the recapitalized Bank of Agriculture and the National Agricultural Development Fund will provide financing for farmers.

Kyari urged stakeholders and private investors to support the expansion of rainfed wheat cultivation, reduce import dependence, and make Nigeria a future exporter of quality wheat, a statement by the ministry informed.

On Monday, just hours after unveiling his cabinet, Sébastien Lecornu, the 39-year-old prime minister walked out of the Hôtel de Matignon, coat buttoned, voice tight, and announced his resignation. In doing so, he became the shortest-serving prime minister in the history of France’s Fifth Republic.

Lecornu’s resignation capped one of the most turbulent political stretches France has seen in years. The country has burned through five prime ministers in less than two years, each undone by the same problem, a parliament too divided to govern and a presidency running out of allies. For president Emmanuel Macron, Lecornu’s sudden exit was a personal and political blow.

The French presidency said in a statement on Monday that Macron has accepted his close ally’s resignation.

Born in 1986 in Eaubonne, north of Paris, Lecornu’s story is not one of privilege but of early ambition. His father worked in aviation, his mother was a medical secretary. By 19, while most of his peers were still in university, he was already a parliamentary assistant-one of the youngest in the National Assembly. He studied law at the prestigious Université Paris II Panthéon-Assas, but his education was always secondary to his true classroom, politics.

Lecornu cut his teeth in Normandy’s rough-and-tumble world of local politics. At just 28, he became mayor of Vernon. Three years later, he was president of the Eure Departmental Council-the youngest in France at the time.

Those who worked with him describe him as meticulous, reserved, sometimes too serious, but utterly committed. His blend of technocratic skill and modest charisma made him a rising figure in the conservative party, Les Républicains.

But Lecornu was never an ideologue. WhenMacron burst onto the national scene in 2017, promising a centrist ‘new way’ of doing politics, Lecornu made the jump, abandoning the traditional right to join the president’s movement.

His loyalty was rewarded, he served successively as minister for local authorities, minister for overseas territories, and, eventually, minister for the armed forces-a post he handled with quiet competence during France’s recalibration of its military role in Africa and its support for Ukraine.

That steadiness, that soldierly composure, was precisely what Macron prized when he appointed Lecornu as prime minister last month. France had just seen the fall of François Bayrou’s government after parliament refused to back his austerity budget. The National Assembly was hung, its factions locked in ideological trench warfare. Lecornu was tasked with doing the impossible, uniting them.

He tried. Over his short weeks in office, Lecornu reached out across the aisle, meeting party leaders, pledging a new method of governance. He promised to end the use of Article 49.3-the constitutional shortcut that allows governments to bypass parliamentary votes-and to rely instead on compromise. He promised to form a government of ‘rupture’, signalling a break from the Macron loyalist circles that had dominated power for nearly a decade.

But when his cabinet list was released on Sunday evening, the rupture looked more like repetition. Of the fifteen ministers, ten were holdovers from previous governments. None came from the left or far right. Bruno Retailleau, interior minister and a senior figure on the right, expressed his dismay on X: ‘The composition of the government does not reflect the promised break.’ Within hours, opposition parties announced they would vote the cabinet down.

By Monday morning, Lecornu faced the inevitable. Standing outside Matignon, he spoke in a clipped, disappointed tone: ‘I was ready for compromise,’ he said. ‘But all parties behaved as if they held absolute majorities. It wouldn’t have taken much for this to work, but egos got in the way.’ His words captured both the exhaustion and futility of French politics today-a landscape fractured by mutual suspicion and pride.

Marine Le Pen, whose far-right National Rally now commands the largest single bloc in parliament, wasted no time. ‘The only wise thing to do now is to hold elections,’ she declared. ‘The joke’s gone on long enough.’ On the left, the message was similar: Macron had lost control; the government was no longer credible.

France’s financial markets reacted within minutes. Stocks tumbled on the Paris exchange. Investors feared that without a functioning government, France’s already precarious budget-its debt at 114 percent of GDP, deficit at 5.8 percent-would spiral further. Lecornu’s government, in theory, was to stabilise that. In practice, it had not even begun.

In political circles, Lecornu’s downfall has sparked sympathy as well as resignation. ‘He was the last loyalist,’ said one Macron adviser quoted anonymously in Le Monde. ‘If even he couldn’t survive, it means the system itself is breaking.’

France is a country where governing has become nearly impossible. The president’s centrist bloc lacks numbers; the far right and far left refuse to cooperate; and the middle ground-the space Lecornu tried to occupy-has all but vanished.

When he left Matignon, Lecornu’s final words were reflective, almost rueful. ‘You can’t be prime minister when the conditions simply aren’t t here,’ he said. ‘The country deserves better than endless gridlock.’

For Lecornu-once the youngest departmental president in the nation, once the steady hand at the defence ministry, now the shortest-serving premier in modern history-stands as both symbol and casualty of a political system that has forgotten how to govern itself.

The Nigerian Economic Summit Group (NESG) has said that Nigeria must begin to act urgently to transform ongoing economic reforms into sustainable growth and shared prosperity for citizens, warning that failure to consolidate the current phase could erode the hard gains made so far.

The Economic group highlighted a seven-point focus area at the ongoing Economic Summit in Abuja, on Monday, that must underpin the next stage of reforms, which includes a renewed focus on industrialisation and enterprise growth, infrastructure development and unlocking investments.

The group also highlighted fiscal sustainability, inclusion, strengthened institutions and improved security as critical drivers for the next phase of the reforms.

According to NESG, these reforms will not only bring gains for Nigerians but can also unlock the ambitious $1 trillion economy.

Olaniyi Yusuf, chairman, NESG, in his opening remarks, commended the government for taking ‘courageous steps’ to remove fuel subsidies, unify the foreign exchange market, and initiate tax reforms, but acknowledged that Nigerians are currently in grief for these changes. He stressed that the real test now lies in converting reform gains into tangible improvements in productivity, competitiveness, and inclusion.

‘If we stop here, we risk losing the progress that has been so courageously won. The challenge before us is to move decisively into the consolidation phase, embedding reforms in ways that drive jobs, growth, and inclusion, while laying the foundations for long-term transformation that will secure prosperity for every Nigerian’, he said.

He framed Nigeria’s reform journey around three distinct phases: stabilisation, consolidation, and acceleration, and called for deliberate policy action to move from the first to the second phase.

‘For the mother wondering how to stretch her infant, for the young breadwinner searching for opportunity, and for the small business trying to stay afloat, reforms must not only stabilise our economy, they must also translate into opportunity and prosperity.’ Yusuf said.

The NESG chairman said the country’s economic recovery remained fragile despite signs of improvement, as growth averaged 3.7 per cent in the first half of 2025, up from 2.9 per cent in the same period last year, while oil production has risen to 1.6 million barrels per day amid improved security in the Niger Delta. Yet, inflation at 20.1 per cent, weak capital inflows, and rising living costs continue to squeeze households and businesses.

He also warned against a narrow focus on Internally Generated Revenue (IGR) at the expense of business growth, saying it will ‘will kill the goose that lays the golden egg’.

On industrialisation, he said, ‘We must build industries that will produce locally, anchor them to local value chains, output processing, renewable energy, and light manufacturing. SMEs that account for 96% of our businesses must have access to affordable finance, stable power, and technology.’

He said investment in infrastructure, especially transportation, renewable power, efficient logistics, and digital connectivity, will ensure competitiveness.

The NESG chairman said Nigeria must also ensure policy predictability, transparent regulations to attract and protect investment.

For fiscal sustainability. Nigeria must strengthen revenue generation, manage debt prudently, and align fiscal and monetary policies to foster growth while keeping inflation in check. Economic reforms must be felt through improved education, healthcare, food security, and jobs, especially for women and young people.

He urged Nigeria to strengthen its institutions, arguing that lasting reforms depend on systems, not personalities. Regulators, he added, must enable rather than stifle business growth.

Beyond consolidation, Yusuf said Nigeria must prepare for an ‘acceleration phase’ driven by structural transformation, human capital development, and global competitiveness. He stressed industrialisation, infrastructure, investment, inclusion, and institutions, the ‘five I’s’ – as the pillars that will anchor this long-term transformation.

He also urged collaboration between government and the private sector, describing the latter as a ‘co-driver of transformation, not merely a beneficiary.’

While acknowledging that vested interests, weak institutions, and governance gaps have slowed reform implementation, Yusuf reaffirmed the NESG’s commitment to act as a bridge between policy and execution.

Omoboyede Olusanya, Vice Chairman of NESG, speaking on the ambitious target for $1 trillion economy by 2030, said it is achievable but Nigeria ‘can’t continue to do the same thing and expect to have a different outcome’.

For him, one of the biggest things that must happen is industrialisation driven by agricultural production, noting that the yield is still low. In addition, he said Nigeria must build the infrastructure that would drive industrialisation.

According to him, attaining the target would mean moving a significant part of the citizens out of poverty.

He noted that Nigeria, currently at $225 billion, would need an additional $745 billion to the GDP in four years at 15% annual GDP growth. Thus, Olusanya said effort levels need to be unprecedented, urgent, immediate, and collaborative

‘If you think that China at its peak was doing 11%, that tells you the phenomenal work that needs to be done’, he said.

To accelerate progress, Olusanya urged sustained investment in technology, human capital development, and macroeconomic stability with favourable interest rates that would allow investment to thrive.

‘We cannot get pure macroeconomic stability in an environment where we keep seeing high interest rates. The interest rates today are to be tuned on to encourage investment’, he urged.