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PRESIDENT TINUBU WELCOMES POSITIVE GDP GROWTH REPORT

Yakubu Haruna 

President Bola Tinubu has expressed enthusiasm for the latest National Bureau of Statistics (NBS) report, which indicates a 3.2% year-on-year growth in Nigeria's Gross Domestic Product (GDP) for the second quarter of 2024. This surpasses the 2.51% growth recorded in the same period last year.

The President views this development as a testament to the economy's recovery trajectory, aligning with his August 4 national broadcast. He reassures Nigerians that his administration is dedicated to fostering a resilient economy and urges citizens to maintain faith in the government's efforts.

The NBS report highlights the service sector's 3.79% growth, contributing 58.76% to the aggregate output. The agriculture sector grew by 1.41%, while the industrial sector experienced a 3.53% growth. Crude production also increased to 1.41 million barrels per day.

President Tinubu is optimistic about the policies in place, anticipating a rise in production to two million barrels soon. The report demonstrates a 16.94% year-on-year nominal growth, with the industry and services sectors contributing more to the aggregate GDP compared to the previous year.