As GDP Growth Hits 4.43%, Tinubu Vows to Turn Recovery into Household Prosperity
• Declares economic expansion signals end of economic stabilisation phase •Services accounted 56.62%, agriculture 26.15%, industries 17.23 amid manufacturing contraction •Oil accounted for 4.16% as production increases to 1.72 mbpd
President Bola Tinubu announced that Nigeria's economy had transitioned from a period of stabilisation to one of robust growth, as evidenced by the country's GDP growth rate accelerating to 4.43% in the second quarter of 2026. The report, released by the National Bureau of Statistics, indicated that the services sector contributed the most to economic output, at 56.62% of real GDP, followed by agriculture at 26.15% and industries at 17.23%.
Despite a contraction in manufacturing, oil production increased to 1.72 million barrels per day, contributing 4.16% to the economy. Tinubu emphasized that the Renewed Hope Agenda was bearing fruit, citing trade surpluses, high foreign reserves, increased credit ratings, and ongoing infrastructure development. The Special Adviser to the President, Bayo Onanuga, assured that more relief programmes would be implemented to address the needs of vulnerable populations, improve transport, boost food production, and provide affordable credit to civil servants.
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