‘Hard reforms paying off’ — Tinubu hails 4.43% GDP growth

President Bola Tinubu has welcomed Nigeria’s 4.43 per cent GDP growth recorded in the second quarter of 2026, saying the performance indicates that the government’s economic reforms are beginning to yield results.

The National Bureau of Statistics reported on Monday that the economy grew by 4.43 per cent in Q2 2026, compared with 4.23 per cent recorded in the corresponding quarter of 2025.

The latest figures also showed growth across agriculture, manufacturing, oil and gas, and the services sector, which remained the largest contributor to the country’s aggregate output.

In nominal terms, Nigeria’s GDP rose to N119.27tn in the quarter, representing an 18.43 per cent increase from the N100.7tn recorded in Q2 2025.

Reacting to the figures in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said the growth came at a significant point in his administration’s economic reform programme.

The President said his administration had spent the past three years implementing difficult policies aimed at stabilising the economy, adding that the focus would now shift towards ensuring that improved macroeconomic performance translates into better living conditions.

“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 listed improved trade balances, higher foreign reserves, stronger credit ratings, increased oil and gas production and renewed investor interest among the gains he attributed to the reforms.

Tinubu also pointed to ongoing infrastructure projects, the absence of strikes in universities and government-backed initiatives such as the Nigerian Education Loan Fund and the Nigerian Consumer Credit Corporation as evidence of progress.

He said the government would in the coming weeks intensify measures aimed at easing the pressure on vulnerable Nigerians, including cheaper transportation, increased food production and other relief programmes.

“The results of the efforts are becoming very clear to all: The Renewed Hope Agenda is working,” he said.

The President acknowledged that economic growth must ultimately be reflected in the lives of ordinary Nigerians, saying his administration was committed to translating stronger national economic performance into improved household welfare.

“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, however, warned that the government would remain vigilant to ensure that the gains recorded so far were sustained.

Tinubu’s reaction followed the NBS report showing that Nigeria’s economy maintained its growth momentum in the second quarter of 2026.