President Bola Ahmed Tinubu has said Nigeria’s economy is now on a stronger growth path after the latest National Bureau of Statistics (NBS) figures showed real Gross Domestic Product (GDP) grew by 4.43% year-on-year in the second quarter of 2026.
The figure is an improvement from the 4.23% growth recorded in the corresponding quarter of 2025, with Tinubu attributing the performance to economic reforms implemented by his administration.
Tinubu Defends Economic Reforms
Reacting to the latest figures, Tinubu said the government had spent the past three years implementing difficult reforms aimed at stabilising the economy.
“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,” he said.
The president added that the results of the reforms were becoming increasingly visible, saying, “The Renewed Hope Agenda is working.”
Foreign Reserves, Credit Ratings Improve
Tinubu also pointed to stronger foreign reserves, improved credit ratings, increased oil production, trade surpluses and renewed investor interest as indicators of economic progress.
“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,” the president said.
The latest GDP performance adds to the administration’s argument that its economic policies are beginning to deliver stronger growth despite the hardship experienced by many Nigerians since the reforms began.
Government Targets Lower Transport Costs
Tinubu said the next priority is to ensure that improved macroeconomic performance translates into better conditions for households and businesses.
He said the government would focus on measures aimed at reducing transportation costs, increasing food production and expanding relief programmes for vulnerable Nigerians.
“We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens,” Tinubu said.
The latest Nigeria GDP growth figures and Tinubu’s economic reforms are expected to remain central to discussions about the country’s economic recovery as the government seeks to balance stronger growth with the cost-of-living pressures facing Nigerians.
