KPMG has cautioned that Nigeria’s current 3.87% GDP growth rate is insufficient to generate shared prosperity. Speaking at the 14th BusinessDay Annual CEO Forum, KPMG One Africa CEO, Tola Adeyemi, stated that for the economy to meaningfully improve living standards, it must grow at a rate of at least 4.2%, well above the current pace of population expansion.

While acknowledging that recent fiscal and monetary reforms have stabilized key macroeconomic indices, Adeyemi noted that Nigeria still lags behind benchmark comparator economies in critical areas such as multidimensional poverty reduction, access to credit, electricity, and education. He emphasized that for economic reforms to be sustainable, they must translate into broad-based benefits. To achieve this, Adeyemi called for accelerated government reforms in power and tax, improved coordination across tiers of government, and increased accountability through measurable targets.