President Bola Tinubu has welcomed Nigeria’s 4.43% year on year GDP growth in the second quarter of 2026, describing the latest figures as evidence that the administration’s economic reforms are beginning to deliver stronger results, according to ChannelsTv and Premium Times. The National Bureau of Statistics reported that growth accelerated from 3.89% in Q1 2026 and 4.23% in Q2 2025, with both oil and non oil sectors expanding.
The economy’s performance was supported by agriculture, oil and gas, manufacturing and services, with services remaining the largest contributor to output at 56.62%. Oil sector growth reached 7.31%, while agriculture expanded 4.39% and services grew 4.60%. Nominal GDP also increased 18.43% year on year to about ₦119.3 trillion.
Tinubu said the figures show that the difficult reforms implemented over the past three years are stabilising the economy, pointing to stronger foreign reserves, improved credit ratings, rising oil production and trade surpluses. He acknowledged, however, that the next challenge is ensuring that improvements in macroeconomic indicators translate into better living conditions and purchasing power for households.
The President pledged stronger microeconomic outcomes, including cheaper transportation, increased food production, affordable credit and targeted relief for vulnerable Nigerians. The latest growth nevertheless remains below the administration’s 7% annual growth ambition, meaning sustaining the recovery while improving productivity and household incomes will remain critical to Nigeria’s economic outlook.
