Wednesday, September 2, 2026 - President Bola Ahmed Tinubu has welcomed the latest Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), saying the growth recorded in the second quarter of 2026 shows that his administration’s economic reforms are yielding results.
The NBS report released on Monday showed that 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.
According to the report, growth was recorded across key
sectors of the economy, including agriculture, manufacturing, oil and gas, and
services, with the services sector retaining its position as the largest
contributor to aggregate GDP.
In nominal terms, Nigeria’s GDP stood at N119.27 trillion in
Q2 2026, representing an 18.43 per cent increase from the N100.7 trillion
recorded in the same period of 2025.
Reacting to the figures, Tinubu, via a press statement
issued by his spokesman, Bayo Onanuga, said the latest growth came at a crucial
time, particularly against the backdrop of criticism from opposition parties
over his administration’s economic policies.
The President said the government had spent the past three
years implementing difficult but necessary reforms aimed at stabilising the
economy and laying 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 maintained that the reforms were not introduced to create
hardship but to position the economy for long-term prosperity.
“The results of the efforts are becoming very clear to all:
The Renewed Hope Agenda is working,” he said.
Tinubu cited Nigeria’s trade surpluses, improved foreign
reserves, stronger credit ratings, increased oil and gas production and the
return of investors as evidence of progress under his administration.
He also highlighted ongoing infrastructure projects,
including roads, railways and superhighways, as well as what he described as
improved stability in the nation’s university system.
The President further pointed to the Nigeria Education Loan
Fund (NELFUND) student loan scheme and affordable credit provided to civil
servants through the Nigerian Consumer Credit Corporation (CreditCorp) as part
of measures designed to expand economic opportunities for Nigerians.
According to him, the Federal Government will in the coming
weeks intensify efforts to address the challenges confronting vulnerable
Nigerians through cheaper transportation, increased food production and other
relief programmes targeted at communities at the grassroots.
“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.
“We are not resting on our oars. We are fully committed to
translating consistent, stronger economic performance into better microeconomic
outcomes for our citizens.
“We must stay vigilant by ensuring the sustainable progress
we are recording remains irreversible”, he added.
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