Caleb University Economists Warn of Tougher Economic Conditions Ahead of 2027 Elections, Call for Urgent Reforms

Economists and policy experts at Caleb University, Imota, Lagos, have projected a more challenging economic environment for Nigeria ahead of the 2027 general elections, warning that political activities, global geopolitical tensions, and persistent inflation could intensify pressure on households and businesses if structural reforms are not sustained.

The projection was made at a high-level symposium organized by the University’s Centre for Political Issues and Economic Thoughts, themed “Nigeria’s Economic Outlook in a Pre-Election Year: Navigating Domestic Trends and Global Geopolitical Shocks.”

The event examined Nigeria’s macroeconomic trajectory in a politically sensitive period, with experts noting that recent economic gains remain fragile despite improvements in key indicators such as inflation moderation and GDP projections.

The Director of the Centre, Dr. Samuel Idowu, stated that pre-election years in Nigeria are typically marked by increased political spending, policy uncertainty, and heightened economic volatility capable of undermining fiscal stability.

“In Nigeria’s political system, the pre-election year witnesses intense activities ranging from party primaries and campaigns to strategic political alignments and litigations. These activities naturally impact public spending patterns and economic stability,” he said.

Another lead speaker, Dr. Raymond Aleghona, noted that although inflation moderated to about 15 percent in March 2026, with April figures at 15.38 percent, the cost of living remains severely high for many Nigerians.

He described projected GDP growth rates of 3.9 percent in 2025 and 4.1 percent in 2026 as modest and highly vulnerable to both domestic political risks and external shocks, stressing the need for stronger policy discipline and long-term economic planning.