FG says economy on irreversible growth path as Q2 GDP rises 4.43%
The federal government has said Nigeria’s economy is on an irreversible path to stronger growth following the latest Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS).
The NBS reported that Nigeria’s real GDP grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent recorded in the corresponding quarter of 2025.
President Bola Tinubu, in a statement on Monday by his spokesperson, Bayo Onanuga, welcomed the figures, saying the growth reflected the impact of economic reforms implemented by his administration since 2023.
The latest GDP report also recorded growth in agriculture, manufacturing, oil and gas, and services, with the service sector remaining the largest contributor to the economy.
In nominal terms, Nigeria’s GDP stood at N119.27 trillion in the second quarter of 2026, representing an 18.43 per cent increase from the N100.7 trillion recorded in the same quarter of 2025.
Tinubu said the latest figures showed that the government’s reforms were beginning to produce the desired results, arguing that the administration had taken difficult decisions to stabilise 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.
According to the President, Nigeria’s trade surpluses, stronger foreign reserves, improved credit rating, rising oil and gas production and renewed investor interest were among the indicators of the economy’s improving performance.
He also cited ongoing infrastructure projects, the absence of prolonged strikes in universities, student loans through the Nigerian Education Loan Fund (NELFUND) and access to affordable credit for civil servants through the Credit Corporation as part of the administration’s achievements.
“The results of the efforts are becoming very clear to all: The Renewed Hope Agenda is working,” Tinubu said.
