The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the federal government is committed to implementing policies to promote sustainable economic growth.

Mr Edun said this in a statement on Wednesday.

The National Bureau of Statistics released the GDP for Q4 2024 on Tuesday. According to the NBS report, Nigeria’s GDP rate in real terms grew by 3.84 per cent in Q4 2024 on a year-on-year basis, which was 0.38 per cent points higher than the 3.46 per cent recorded in Q3 2024.

Similarly, it was higher by 0.38 per cent basis points, relative to a similar growth rate of 3.46 per cent recorded in Q3 2024.

The report said that the annual growth rate reached 3.4 per cent in 2024, compared to 2.7 per cent recorded in 2023, with the services sector playing a significant role in driving the growth.

According to Mr Edun, as the country continues on the path of economic growth and development, the federal government remains committed to implementing policies and initiatives that promote sustainable and inclusive growth.

He said that this would help improve the lives of all Nigerians.

“We are pleased to see the continued growth momentum, both from a quarterly and annual standpoint.

“It is a true testament to the resilience of the Nigerian economy and the success of President Bola Tinubu’s Renewed Hope Agenda,” Mr Edun said.

The minister also mentioned that the expansion of the services sector and the government’s ongoing efforts to strengthen food security through agricultural investments were yielding positive results.

He said efforts to ensure economic growth translated into improved livelihoods for all Nigerians continued through initiatives such as the direct benefit transfers scheme. 

(NAN)