By Chesa Chesa
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.
