President Bola Tinubu claims Nigeria's economy is on a positive trajectory following a 3.2% GDP growth in Q2 2024, as reported by the National Bureau of Statistics. Tinubu reassured citizens of ongoing economic reforms and projected increased crude oil production, emphasizing a commitment to national recovery.
President Bola Tinubu has expressed his belief that Nigeria's economy is on an upward trajectory following the National Bureau of Statistics (NBS) report showing a 3.2% year-on-year growth in gross domestic product (GDP) for the second quarter of 2024. This marks an improvement over the 2.51% growth recorded in the same quarter of the previous year.
In a statement from Bayo Onanuga, Tinubu’s special adviser on information and strategy, it was noted that the GDP report is a positive sign for the nation's recovery, particularly after recent trends indicated a decline in food and overall inflation. The presidency reiterated Tinubu’s earlier remarks from his national address on August 4, asserting that, “Our economy is recovering,” and that Nigerians will soon experience the positive impacts of the government's economic initiatives.
Tinubu encouraged citizens to maintain their trust in the government and to disregard critics attempting to undermine essential reforms. He also highlighted an increase in crude oil production, which has risen to 1.41 million barrels per day, up from 1.22 million barrels a year prior. The president expressed confidence that production levels could reach two million barrels per day soon, thanks to the policies in place.
According to the NBS, Nigeria’s nominal GDP for Q2 2024 reached N60.93 trillion, with a real GDP of N18.29 trillion, reflecting a significant advancement in the country's economic landscape.
