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President Bola Tinubu has welcomed Nigeria’s 4.43 per cent Gross Domestic Product (GDP) growth recorded in the second quarter of 2026, describing the latest figures as an indication that his administration’s economic reforms were beginning to deliver results.
The National Bureau of Statistics (NBS) reported that the economy grew by 4.43 per cent year-on-year in Q2 2026, compared with 4.23 per cent recorded in the corresponding quarter of 2025.
The President’s reaction was contained in a statement issued on Monday by his Special Adviser on Information and Strategy, Bayo Onanuga, titled, ‘President Tinubu Welcomes Reports of GDP growth, Assures of Stronger Microeconomic Performance.’
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President Tinubu welcomes reports of growth in GDP, assures of stronger microeconomic performance
President Bola Ahmed Tinubu welcomed the encouraging news on Monday from the National Bureau of Statistics, which shows that Gross Domestic Product for… pic.twitter.com/UNTm3N6Nt4
— Bayo Onanuga, OON, CON (@aonanuga1956) August 31, 2026
According to the statement, the latest NBS report showed growth across agriculture, manufacturing, oil and gas, and the services sector, which remained the largest contributor to overall economic output.
Nigeria’s nominal GDP also rose to N119.27 trillion in the second quarter, representing an 18.43 per cent increase from the N100.7 trillion recorded in the same period of 2025.
Tinubu said the figures reflected the impact of difficult economic decisions taken by his administration over the past three years to stabilise the economy and create the foundation for stronger 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.
“We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people,” Tinubu said.
He pointed to Nigeria’s reported trade surpluses, stronger foreign reserves and improved credit ratings as further signs of progress under his administration.
“The results of the efforts are becoming very clear to all: 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 added.
The President also cited rising oil and gas production, infrastructure development and the return of some investors as evidence of improving economic conditions.
“We are building roads, railways and superhighways that will last for a long time
“Investors who left are returning. Oil and gas production is increasing. And in our universities, for the first time in a long time, there are no strikes. Our children are in class.
“And through NELFUND, student loans are putting education within reach, and affordable credit is going to our civil servants through CreditCorp,” he said.
He said the administration’s reforms were not intended to create hardship but to establish conditions that would eventually translate into greater prosperity for Nigerians.
Tinubu acknowledged that economic growth must ultimately be reflected in the daily lives of citizens, saying his administration would focus on improving household welfare alongside broader economic performance.
He announced that additional measures aimed at supporting vulnerable Nigerians would be introduced in the coming weeks, including cheaper transportation, increased food production and other relief programmes targeted at communities.
He further assured Nigerians that the administration would continue working to sustain economic growth while ensuring that its benefits become more visible in households and communities.
“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,” the President said.
“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,” he added.
