CPPE Backs FG’s New Social Intervention Programmes, Says They Are Key to Sustaining Economic Reforms

The Centre for the Promotion of Private Enterprise (CPPE) has endorsed the Federal Government’s newly launched social intervention programmes, describing them as a critical step towards strengthening the legitimacy of Nigeria’s ongoing economic reforms and ensuring that macroeconomic gains translate into improved living standards for citizens.

In a policy brief released on Monday, the private sector advocacy group said the programmes, backed by the World Bank, represent a significant shift in policy focus, moving from restoring macroeconomic stability to promoting inclusive growth, social protection and shared prosperity.

The intervention package comprises five flagship programmes: the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES AF), the Solutions for Internally Displaced and Host Communities Programme (SOLID), and three Human Capital Opportunities for Prosperity and Equity (HOPE) initiatives: HOPE-GOV, HOPE-PHC and HOPE-EDU.

According to the CPPE, there is now broad consensus that the administration’s economic reforms have strengthened key macroeconomic indicators, including exchange-rate stability, fiscal transparency, external reserves and investor confidence.

However, it stressed that macroeconomic stability alone cannot be regarded as the ultimate measure of successful reforms.

“The enduring test of any reform programme is its ability to improve living standards through lower inflationary pressures, higher productivity, stronger employment and rising household incomes,” the organisation stated.

The CPPE argued that the new social intervention programmes are strategically important because they demonstrate that the objective of economic reforms is to improve citizens’ welfare, not merely to deliver favourable economic statistics.

It noted that public support for difficult economic reforms is more likely to be sustained when their benefits are visible, inclusive and widely shared across society.

According to the policy brief, effective social protection not only cushions vulnerable households against the impact of economic adjustment but also enhances the political credibility and long-term sustainability of the government’s reform agenda.

The organisation further emphasised that macroeconomic stability should be viewed as a means to achieving broader development goals, including inclusive economic growth, productive employment, poverty reduction and improved household welfare.

While commending the government’s recognition of this policy direction, the CPPE warned that the success of the programmes would depend largely on implementation. It called for robust governance mechanisms that minimise leakages, prevent political capture and ensure that benefits reach intended beneficiaries efficiently, transparently and at scale. The organisation also advised that international development models should be adapted to Nigeria’s institutional realities rather than adopted wholesale.

Beyond social interventions, the CPPE urged the government to intensify structural reforms capable of addressing the root causes of poverty. It identified insecurity, persistent food inflation, weak agricultural productivity, inadequate infrastructure and high production costs as major constraints to inclusive growth and sustainable poverty reduction.

According to the policy brief, while cash transfers and related interventions can provide temporary relief to vulnerable households, lasting economic transformation will depend on expanding productive employment, improving competitiveness and creating an environment that supports private sector investment.

The CPPE concluded that social protection and structural reforms should be pursued as complementary policy instruments: social programmes cushion the immediate effects of economic adjustment, while structural reforms provide the foundation for higher productivity, stronger investment, sustainable income growth and durable poverty reduction.

Signed by its Chief Executive Officer, Dr Muda Yusuf, the organisation said the overriding priority should now be rigorous implementation, transparent governance, effective targeting and measurable outcomes, to ensure that the gains from macroeconomic reforms are reflected in the everyday lives of Nigerians.