President Bola Ahmed Tinubu has welcomed the latest Gross Domestic Product figures released by the National Bureau of Statistics, describing the 4.43 per cent growth recorded in the second quarter of 2026 as evidence that his administration’s economic reforms are yielding results.
The NBS, in its latest report released on Monday, said Nigeria’s GDP grew by 4.43 per cent in Q2 2026, up from the 4.23 per cent recorded in the corresponding quarter of 2025.
The report also indicated improved performance across key sectors of the economy, including agriculture, manufacturing, oil and gas, and services, with the service sector retaining its position as the largest contributor to aggregate 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 Q2 2025.
Reacting to the figures, Tinubu said the latest growth data came at a critical time, insisting that the economic reforms introduced by his administration since May 2023 were beginning to produce measurable results.
According to the President, his administration deliberately undertook difficult reforms to stabilise the economy and lay the foundation for sustainable growth.
“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.
He said the gains recorded so far included improved trade balances, stronger foreign reserves, better credit ratings, increased oil and gas production and the return of investors who had previously exited the country.
Tinubu also cited ongoing infrastructure projects, including roads, railways and superhighways, as part of the administration’s efforts to strengthen the economy.
The President further highlighted developments in the education and social intervention sectors, noting that Nigerian universities had remained free from strikes while the Nigeria Education Loan Fund had expanded access to student loans.
He also referenced affordable credit facilities being provided to civil servants through the Nigerian Consumer Credit Corporation.
Tinubu, however, acknowledged the economic pressures still confronting vulnerable Nigerians, saying his administration would intensify measures aimed at easing the impact of rising living costs.
He said the government would, in the coming weeks, focus on providing cheaper transportation, increasing food production and implementing relief programmes targeted at communities across the country.
The President assured Nigerians that his administration remained committed to ensuring that macroeconomic gains translated into improved living conditions for households.
“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.
“We are not resting on our oars. We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens.”
Tinubu also urged vigilance in sustaining the economic gains recorded so far, stressing that the progress must be protected and made irreversible.