Yemi Kale dropped a reality check on Nigeria’s fake economic diversity while listing growth sectors. That ex-boss of the National Bureau of Statistics claims five specific areas will carry the country economically in 2026. He named ICT, construction, energy refining, agro-processing, and general services as the main drivers during a Firstbank event.
Kale currently works for AfreximBank and believes tech will expand fastest thanks to fintech and broadband upgrades. He expects construction to boom from government spending while local refining finally cuts down fuel imports. Agriculture should also see gains because of better trade agreements and logistics improvements.
The economist warned that lower inflation might help retail or tourism recover, yet he roasted current policies for chasing the wrong goals. He argued that the nation produces many things but barely adds any value to them, which keeps the economy weak despite looking busy on paper.
Kale insists officials mostly care about taxing people more rather than fixing broken power grids or terrible roads. He stressed that real resilience requires shifting away from just digging stuff out of the ground. The focus must switch toward actually building complex products and supporting industrial clusters.
Kale currently works for AfreximBank and believes tech will expand fastest thanks to fintech and broadband upgrades. He expects construction to boom from government spending while local refining finally cuts down fuel imports. Agriculture should also see gains because of better trade agreements and logistics improvements.
The economist warned that lower inflation might help retail or tourism recover, yet he roasted current policies for chasing the wrong goals. He argued that the nation produces many things but barely adds any value to them, which keeps the economy weak despite looking busy on paper.
Kale insists officials mostly care about taxing people more rather than fixing broken power grids or terrible roads. He stressed that real resilience requires shifting away from just digging stuff out of the ground. The focus must switch toward actually building complex products and supporting industrial clusters.
