The Lagos Chamber of Commerce and Industry has projected that the Nigerian economy will end this year on a positive note if the current economic reform efforts of the Federal Government are sustained.

The President of the LCCI, Gabriel Idahosa, expressed this optimism yesterday in Lagos during a media briefing on the state of the economy.

Idahosa highlighted key areas of improvement driven by the reforms, stating: “FX has been stable. The margin between parallel and official rates has closed significantly. Economic actors are now able to plan well.”

He added that the stability has boosted confidence in the nation’s economic potential, confirming: “Some foreign investors have suggested that if these reforms can be sustained, more investors would be encouraged to come into Nigeria. The general consensus is that Nigeria has managed to maintain economic stability.”

Consequently, he noted that the business community is looking forward with greater confidence: “We are going into the fourth quarter with a certain amount of confidence, seeing lower tendencies for speculations in the exchange rate management.”

The LCCI President, however, cautioned that sustained economic recovery will depend on a synergy between fiscal and monetary policy.

He detailed the Chamber’s forward-looking perspective: “Looking ahead, LCCI believes that sustained economic recovery depends on synergy between fiscal and monetary policy. Fiscal reforms must emphasize efficiency and accountability, while monetary policy should remain predictable and supportive of the real sector.”

He stressed the need for economic diversification beyond the oil sector, urging the expansion of value-added activities in agriculture, manufacturing, and digital trade.

He maintained that “Above all, institutional credibility and good governance remain the foundation of investor confidence and sustainable prosperity.”

Idahosa concluded by outlining the path for turning macroeconomic stability into tangible benefits for the average citizen and business: “The path forward is clear. We must pursue stability through discipline, growth through diversification, and prosperity through partnership. Our collective goal must be to translate macroeconomic stability into improved living standards for our citizens and more substantial competitiveness for our businesses.”

He noted that Nigeria’s fundamentals are showing cautious signs of improvement, but warned that while the economy is regaining momentum, the structural imbalance between the oil and non-oil sectors persists, underscoring the need for greater focus on non-oil revenue.