4.43% GDP: Nigeria’s Economy Stabilised, Reforms Delivering Results—Tinubu

By Adedapo Adesanya

President Bola Tinubu says Nigeria’s economy has been stabilised and is now on a path of stronger growth, following the latest Gross Domestic Product figures released by the National Bureau of Statistics (NBS) yesterday.

The President said the 4.43 per cent GDP growth recorded in the second quarter of 2026 showed that the economic reforms implemented by his administration were beginning to deliver measurable results.

President Tinubu made the declaration in a statement issued by his spokesperson, Mr Bayo Onanuga, on Monday in Abuja.

According to the stats office, Nigeria’s real GDP grew by 4.43 per cent in Q2 2026, higher than the 4.23 per cent recorded in the corresponding quarter of 2025.

The growth was driven by improved performance across agriculture, manufacturing, oil and gas, and services, with the services sector remaining the largest contributor to aggregate output.

In nominal terms, aggregate GDP increased to N119.27 trillion in Q2 2026 from N100.70 trillion in Q2 2025, representing an 18.43 per cent increase.

Reacting to the figures, President Tinubu said the performance came at an important time, particularly amid criticisms that his administration’s economic policies had worsened living conditions.

“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,” he said.

The President maintained that the reforms, including difficult economic decisions taken by his administration, were not intended to create hardship but to establish the foundation for sustainable prosperity.

“We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people,” Tinubu said.

He said the latest economic indicators demonstrated that the administration’s Renewed Hope Agenda was yielding results.

“The results of the efforts are becoming very clear to all: The Renewed Hope Agenda is working,” the President said.

He pointed to Nigeria’s trade surpluses, stronger foreign exchange reserves, improved international credit ratings and increased infrastructure development as evidence of the country’s improving economic position.

“Because of those tough decisions, today Nigeria has trade surpluses. Our foreign reserves are at their highest in 17 years.

“Our credit rating has moved up several notches. We are building roads, railways and superhighways that will last for a long time,” he said.

The President also identified increased oil and gas production and the return of investors as further signs of renewed confidence in the Nigerian economy.

“Investors who left are returning. Oil and gas production is increasing,” Tinubu said.

Beyond macroeconomic indicators, Tinubu highlighted developments in education and access to affordable credit as part of his administration’s efforts to improve economic inclusion.

He said improved industrial relations in the university system had helped ensure that students remained in school.

“And in our universities, for the first time in a long time, there are no strikes. Our children are in class,” he said.

The President also cited the Nigeria Education Loan Fund as an important instrument for expanding access to higher education, while noting that affordable credit was being made available to civil servants through the Nigerian Consumer Credit Corporation.

“And through NELFUND, student loans are putting education within reach, and affordable credit is going to our civil servants through Creditcorp,” Tinubu said.

Despite the positive macroeconomic indicators, the President acknowledged that many Nigerians, particularly vulnerable households, continued to face economic difficulties.

He said the government would intensify measures aimed at cushioning the impact of the ongoing challenges, including cheaper transportation and increased food production.

“We are addressing some of the challenges being faced by our vulnerable population by providing cheaper means of transport,” he said.

Tinubu added that the government would ramp up food production and introduce additional relief programmes targeted at vulnerable Nigerians.

“These measures will touch lives at the grassroots,” he said.

The President stressed that the ultimate objective of his administration was to translate improved macroeconomic performance into better living conditions for Nigerians.

“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,” he said.

Tinubu assured Nigerians that his administration would continue with its reform agenda while implementing measures to ensure that the gains from economic growth translate into broader prosperity.

“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 said.