*Photo: President Bola Tinubu*
President Bola Ahmed Tinubu has welcomed the latest Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), describing the growth recorded in the second quarter of 2026 as evidence that his administration’s economic reforms are yielding results.
Presidential spokesman, Bayo Onanuga said this in a press statement on Monday, 31st August, 2026.
The NBS report showed that Nigeria’s GDP grew by 4.43 per cent in Q2 2026, compared with 4.23 per cent recorded in the corresponding quarter of 2025.
According to the report, agriculture, manufacturing, oil and gas, and the services sector all recorded growth during the period, with the services sector maintaining its position as the largest contributor to aggregate GDP.
In nominal terms, Nigeria’s aggregate GDP stood at N119.27 trillion in Q2 2026, representing an 18.43 per cent increase from the N100.7 trillion recorded in Q2 2025.
Reacting to the figures, President Tinubu said the development came at a critical time, particularly as opposition parties had continued to criticise his administration’s economic policies and promised to reverse some of the reforms if elected.
“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 said the reforms were not introduced to create hardship but to lay the foundation for long-term prosperity, adding that the results were increasingly becoming evident.
“The Renewed Hope Agenda is working. 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,” he said.
The President also highlighted infrastructure development, increased oil and gas production and the return of some investors as indicators of improving economic conditions.
He noted that industrial peace in the university system, student loans provided through the Nigerian Education Loan Fund (NELFUND), and affordable credit for civil servants through the CreditCorp were also among the initiatives of his administration.
Looking ahead, Tinubu said the Federal Government would intensify measures aimed at cushioning the impact of economic challenges on vulnerable Nigerians.
“In the next few weeks, we are addressing some of the challenges being faced by our vulnerable population by providing cheaper means of transport, ramping up food production and implementing various relief programmes that will touch lives at the grassroots,” he said.
The President assured Nigerians that his administration would continue to focus on translating the improving macroeconomic indicators into tangible benefits 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,” Tinubu said.
He added that the government would remain committed to ensuring that the progress recorded so far was sustained.
“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.
Tinubu urged continued vigilance to ensure that the gains achieved through the ongoing reforms remained sustainable and irreversible.