Nigeria’s private sector holds immense potential, but systemic frictions—regulatory inefficiencies, infrastructure gaps, and weak contract enforcement—continue to limit growth. This report offers a structural assessment of the business environment across five critical pillars, highlighting the urgent need for institutional reform. While recent policy efforts show intent, deeper, systemic change is required to unlock investment, drive innovation, and position the private sector as a key engine of national development. The time for coordinated, transformative reform is now.