Q2 GDP: Tough Reforms Paying Off As Economy Grows 4.43%, Says Tinubu

President Bola Ahmed Tinubu has welcomed the latest Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), describing the growth as evidence that his administration’s economic reforms are yielding results.

According to the NBS report, Nigeria’s GDP grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent recorded in the corresponding period of 2025.

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

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 period last year.

Tinubu said the latest figures came at a time when his administration was coming under criticism from opposition parties over its economic policies.

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The President, in a statement on Monday by his Special Adviser on Information and Strategy, Bayo Onanuga, said the government had spent the past three years implementing difficult reforms 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. We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people,” Tinubu said.

He listed what he described as the gains recorded under his administration, including improved foreign reserves, higher credit ratings, increased oil and gas production and the return of some investors.

“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 said.

Tinubu also pointed to ongoing infrastructure projects, improved industrial activity and developments in the education sector as other areas where his administration had recorded progress.

“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,” he said.

The President further highlighted the impact of the Nigerian Education Loan Fund (NELFUND) and the Credit Corporation (Creditcorp), saying the initiatives were expanding access to education and affordable credit.

“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 added.

Tinubu said the Federal 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.

“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,” he stated.

The President assured Nigerians that his administration would continue to pursue policies aimed at improving economic growth and translating macroeconomic gains into better living conditions.

“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,” Tinubu said.

He added: “We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens. We must stay vigilant by ensuring the sustainable progress we are recording remains irreversible.”