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President Bola Ahmed Tinubu has welcomed Nigeria’s 4.43 per cent Gross Domestic Product growth in the second quarter of 2026, describing the performance as further evidence that his administration’s economic reforms are yielding results.
The National Bureau of Statistics reported on Monday that the economy grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent recorded during the corresponding period in 2025.
According to the report, key sectors including agriculture, manufacturing, oil and gas, and services recorded growth, with the service sector maintaining its position as the largest contributor to aggregate GDP.
In nominal terms, Nigeria’s aggregate GDP stood at N119.27 trillion in the second quarter of 2026, representing an 18.43 per cent increase from the N100.7 trillion recorded in the same period last year.
Reacting to the figures, President Tinubu said the report came at a time when opposition figures had continued to criticise his administration’s economic policies and pledged to reverse some of the reforms if elected.
The President said his administration had taken difficult decisions over the past three years to stabilise the economy and lay the foundation for sustainable prosperity.
“In the past three years, we tried to do the hard part by implementing the necessary reforms to stabilise the economy. Now the economy is stabilised, and we have laid the foundation for a prosperous nation,” Tinubu said.
“We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people.”
He said the administration was beginning to see clearer results from the reforms, citing improvements in trade, foreign reserves, credit ratings, infrastructure development and investment.
Tinubu said Nigeria was now recording trade surpluses, while foreign reserves had reached their highest level in 17 years.
He also pointed to increased oil and gas production, ongoing investments in roads, railways and major highways, as well as what he described as the return of investors who had previously exited the country.
The President further highlighted stability in the university system, noting that academic activities had continued without the prolonged strikes that had disrupted the sector in previous years.
He said the Nigerian Education Loan Fund, NELFUND, was expanding access to higher education, while affordable credit was being provided to civil servants through the Nigerian Consumer Credit Corporation, CreditCorp.
Tinubu said his administration would in the coming weeks intensify efforts to support vulnerable Nigerians through cheaper transportation, increased food production and relief programmes targeted at grassroots communities.
“Under our watch, the economy is on the irreversible path to experience even more growth that all homes will feel at the dining table and in their pockets,” the President said.
“We are not resting on our oars. We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens.”
He added that the government remained focused on ensuring that the gains from improved macroeconomic indicators translated into tangible improvements in the living conditions of Nigerians.
Tinubu said his administration would remain vigilant to ensure that the progress being recorded was sustained and became irreversible.
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