Tinubu says subsidy removal bringing prosperity to Nigeria, hails 4.43% GDP growth

“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,” said Mr Tinubu.

Ambali Abdulkabeer • September 1, 2026

President Bola Tinubu [Credit: The Guardian Nigeria News]

President Bola Tinubu has said his administration’s tough economic decisions over the last three years have stabilised the economy and laid a solid foundation for a prosperous country.

Mr Tinubu, who stated this on Monday in a statement by his spokesperson Bayo Onanuga, welcomed the National Bureau of Statistics report showing Gross Domestic Product growth of 4.43 per cent for the second quarter of 2026, up from 4.23 per cent in the second quarter of 2025.

“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,” Mr Tinubu explained.

According to the statement, the report also showed growth in agriculture, manufacturing, the oil and gas sector, and the service sector, which dominated the economy in terms of contribution to aggregate GDP.

It added that in nominal terms, the country’s aggregate GDP in the second quarter stood at N119.27 trillion, up by 18.43 per cent from N100.7 trillion recorded at the same time last year.

“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. 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. 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,” Mr Tinubu stated.

The president expressed commitment to translate stronger economic performance into better microeconomic outcomes for Nigerians.

“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. We must stay vigilant by ensuring the sustainable progress we are recording remains irreversible,” Mr Tinubu added.

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