President Tinubu has expressed enthusiasm over Nigeria’s recent economic performance, as highlighted in the third-quarter Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS)
The report revealed that the economy grew by 3.46% in the third quarter, exceeding both the 3.19% growth recorded in the previous quarter and projected estimates.
In a statement issued on Monday by his Special Adviser on Media and Public Communications, Sunday Dare, President Tinubu said, “I am excited by the latest report from the National Bureau of Statistics that our economy grew in the third quarter more than last quarter and even beyond projected estimates.”
While acknowledging the positive growth, the President stressed the need for continuous efforts to ensure that this progress translates into tangible improvements in the lives of Nigerians. “The latest figure also highlights the work ahead. We won’t rest until Nigerians feel the positive impacts in their pockets and experience a better living standard,” he stated.
President Tinubu reiterated his administration’s commitment to citizens’ welfare, emphasizing that economic growth must drive improved livelihoods. He pointed out that the third-quarter performance reflects progress toward his administration’s goal of achieving a $1 trillion economy by 2030.
He attributed the growth to ongoing reforms focused on enhancing fiscal management and promoting equitable wealth distribution. “These reforms are beginning to yield results despite initial challenges,” he noted.
The NBS report identified key sectors driving growth, including Agriculture (28.65%), ICT (16.35%), Trade (14.78%), Manufacturing (8.21%), Crude Oil (5.57%), Finance and Insurance (5.51%), and Real Estate (5.43%). President Tinubu highlighted the potential of these sectors to accelerate Nigeria’s economic recovery and address structural inefficiencies.
The President also underscored the importance of proposed tax reforms aimed at easing the burden on small businesses and promoting fairness in revenue allocation across states. He explained that these reforms seek to mitigate disparities caused by the “headquarters effect,” ensuring a more equitable distribution of resources to underserved areas.
Looking ahead, Tinubu reaffirmed his administration’s focus on rebasing the economy by 2025 to capture transformative sectoral changes. He assured Nigerians that these efforts would position the country for shared prosperity, emphasizing inclusivity and improved living standards.
“This 3.46% growth signals recovery from the unintended effects of recent reforms,” Tinubu stated, adding that his administration remains unwavering in its promise to build a $1 trillion economy by 2030.
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 report released by the National Bureau of Statistics (NBS)){kind=link}
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