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Tinubu

President Bola Ahmed Tinubu has welcomed Nigeria’s 4.43 per cent Gross Domestic Product growth recorded in the second quarter of 2026, saying his administration is now focused on ensuring that improved macroeconomic performance translates into better living conditions for citizens.

The latest figure, released by the National Bureau of Statistics on Monday, represents an increase from the 4.23 per cent growth recorded in the corresponding quarter of 2025.

The report showed that agriculture, manufacturing, oil and gas, and services all recorded growth during the quarter, with the services sector maintaining its position as the largest contributor to the nation’s overall GDP.

In nominal terms, Nigeria’s GDP rose to 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 latest economic performance demonstrated that the difficult reforms implemented by his administration since May 2023 were beginning to deliver results.

He said the reforms were necessary to stabilise the economy and establish the foundation for sustainable growth, adding that his administration remained committed to ensuring that the gains eventually translate into tangible improvements in the daily lives of Nigerians.

“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,” the President said.

Tinubu highlighted what he described as improvements in Nigeria’s trade position, foreign reserves, credit rating, infrastructure development, oil and gas production and investment climate.

He also pointed to the absence of prolonged university strikes, the expansion of student financing through the Nigeria Education Loan Fund, and affordable credit initiatives for civil servants through the Credit Corporation as evidence of the administration’s broader economic agenda.

The President acknowledged that challenges remain, particularly for vulnerable Nigerians, but said measures were being introduced to ease the pressure.

According to him, the government will in the coming weeks focus on cheaper transportation, increased food production and relief programmes targeted at communities across the country.

Tinubu said the government would not become complacent, stressing that stronger GDP growth must ultimately be reflected in household incomes and purchasing power.

“We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens,” he said.

He urged continued vigilance to ensure that the economic progress recorded under his administration remains sustainable and irreversible.

The Traffic NG
GDP Growth President Bola Ahmed Tinubu
Amarachi Ihesiulo
The Traffic NG

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