Matilda Omonaiye/
Nigeria must consider bold, unconventional measures, including joint military exercises with the United States, if it truly hopes to end its decades-long battle with terrorism, President/CEO of WorldStage Limited, Mr. Segun Adeleye, declared on Friday at the WorldStage Economic Summit (WES) 2025) in Lagos.
Speaking at the high-profile summit themed “Tackling the Issue of Low Productivity in Nigeria,” Adeleye warned that insecurity has become the single most dangerous threat to national productivity and economic stability, and could no longer be treated as a domestic problem.
Adeleye said that rising global attention on Nigeria’s security failures, including reported threats by U.S. President Donald Trump to launch attacks on terrorist hideouts in Nigeria, should prompt urgent diplomatic engagement rather than defensive silence.
“If President Trump is threatening to launch attacks in Nigeria over insecurity-related issues, then the government should engage him,” he said. “We can agree on joint military exercises that will flush out terrorists in the country.”
He argued that after 26 years of failed attempts to eliminate Boko Haram, from the Obasanjo era in 1999 to date, it is now obvious that Nigeria “needs help” to end the menace once and for all.
The summit drew top policymakers and industry leaders, including Mr. Olanipekun Olukoyede, Executive Chairman of the EFCC, and Dr. Olasupo Olusi, MD/CEO of the Bank of Industry.
Adeleye added that Nigeria’s quest for higher productivity would remain a mirage without decisive action on insecurity.
“You cannot talk about productivity when terrorists are ruling parts of the country,” he said. “Economic activity collapses where fear thrives.”
Reflecting on the progress since WES 2024, themed “Nigeria: Setting a Stage for Business and Economic Recovery”, Adeleye acknowledged signs of macroeconomic recovery:
• stronger GDP growth
• improved foreign reserves
• relatively stable exchange rate
But he warned that these gains had not translated into real improvements for ordinary Nigerians.
He cited persistent challenges:
• High food inflation
• Deepening poverty
• Rising cost of living
• Weakening household purchasing power
Adeleye noted that although four major tax reforms were enacted in June 2025 to boost revenue, inflationary pressures and currency depreciation have forced many families into survival mode, rationing food and switching to cheaper substitutes.
Nigeria’s structural transformation, he said, remained too slow to lift millions out of poverty:
• 63% multidimensional poverty
• 40% income poverty
• 92.6% of jobs classified as low-quality or informal
“If the economy is recovering, why is it not delivering higher-productivity jobs?” Adeleye said.
“How do we get the economy to produce enough to reduce food inflation, lower poverty, and bring down the cost of living?”
He urged participants to examine whether recent reforms, including subsidy removal, exchange-rate unification, and tax overhauls, are sufficient or whether Nigeria must explore new alternatives.
Delivering the keynote address, Dr. Abidemi C. Adegboye, a leading economist from the University of Lagos, described Nigeria’s productivity crisis as “both a human tragedy and a defining opportunity,” stressing that strategic reforms, inclusive policies, and a secure environment are essential for unlocking growth.
Since inception, the WorldStage Economic Summit has positioned itself as a platform that brings together the public and private sectors to generate fresh solutions to Nigeria’s economic challenges.
Adeleye reaffirmed the organisation’s commitment to providing innovative, practicable recommendations that can guide business leaders and policymakers.
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