Tough reforms beginning to change Nigeria’s economic fortunes — Tinubu
President Bola Tinubu says his administration’s economic reforms are rewriting Nigeria’s decades-long story of underperformance, citing improvements in economic growth, investment inflows and manufacturing.
Tinubu, represented by Vice-President Kashim Shettima, spoke on Monday while declaring open the 32nd Nigerian Economic Summit in Abuja.
He said the reforms were designed to dismantle structural barriers to economic growth, restore investor confidence and create jobs, productivity and shared prosperity.
“We came to rewrite the story of a nation that has performed below its potential for far too long. But there is no shortcut to economic growth. This is why we began with a difficult reset,” he said.
According to him, rescuing the economy requires transforming the fortunes of young jobseekers, farmers, manufacturers, entrepreneurs and innovators.
The President said his administration had introduced reforms to stabilise the economy and create conditions for public and private sector investments to expand and generate productive employment.
He cited National Bureau of Statistics figures showing that Nigeria’s inflation-adjusted Gross Domestic Product grew by 3.89 per cent in the first quarter of 2026, compared with 3.13 per cent in the corresponding period of 2025.
Tinubu also said non-oil activities accounted for 96.08 per cent of GDP, while manufacturing grew by 3.29 per cent and the oil sector by 2.57 per cent.
