President Bola Ahmed Tinubu on Monday night expressed satisfaction over a report attributed to the National Bureau of Statistics, showing that the Gross Domestic Product for the second quarter of 2026 grew by 4.43 percent, up from 4.23 percent in the second quarter of 2025.
The report also shows growth in agriculture, manufacturing, the oil and gas sector and the services sector, which now dominates the economy in terms of contribution to aggregate GDP.
In nominal terms, the country’s aggregate GDP in the second quarter stood at N119.27 trillion, 18.43 percent higher than the N100.7 trillion recorded at the same time last year.
The NBS revealed this in its Gross Domestic Product Report for the second quarter of 2026, published on Monday.
The NBS report indicated that economic activity continued to expand during the quarter, extending the gradual recovery recorded over the past year.
A statement signed by Bayo Onanuga, Special Adviser to the President, Information and Strategy, revealed that President Tinubu said the report could not have come at a better time as the opposition has been trying to diminish the efforts of his administration since May 2023 and has even promised to reverse the policies if, by chance, Nigerians voted for them.
“Over the past three years, we tried to do the hard part by implementing the reforms necessary to stabilize the economy. Now the economy is stabilized and we have laid the foundation for a prosperous nation. We did not make the reforms to create challenges, but to ensure that prosperity reaches all our people.
READ ALSO: Tinubu asks US court to block release of alleged drug trafficking records – Legal team
“The results of the efforts are becoming very clear to everyone: the Renewed Hope Agenda is working. Because of those difficult decisions, today Nigeria has trade surpluses. Our foreign exchange reserves are at their highest level in 17 years. Our credit rating has gone up several notches. We are building roads, railways and superhighways that will last 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 our civil servants receive affordable credit through Creditcorp.
“In the coming weeks, we will address some of the challenges facing our vulnerable population by providing cheaper means of transportation, increasing food production, and implementing various relief programs that will impact lives at the grassroots.
“Under our watch, the economy is on an irreversible path to experience even greater growth that every household will feel at the dining table and in their pockets. We are not resting on our oars. We are fully committed to translating consistent and stronger economic performance into better microeconomic outcomes for our citizens. We must remain vigilant to ensure that the sustainable progress we are recording remains irreversible,” President Tinubu said.
WATCH THE BEST VIDEOS FROM Newslodge TV