FG: With Economic Growth Trajectory, Nigeria on Track Towards $1trn Economy
• Says country well positioned to consolidate its standing among Africa’s largest economies •Tinubu: We must translate macroeconomic stability into prosperity • Yuguda urges Nigerians to carefully evaluate Atiku’s promise
President Bola Tinubu has emphasized that Nigeria's economic growth trajectory demonstrates the country's readiness to consolidate its position among Africa's largest economies and to advance towards a $1 trillion economy by 2030. The Federal Ministry of Finance highlighted the nation's standing following the release of the latest economic growth statistics by the National Bureau of Statistics (NBS).
Tinubu stressed the importance of transforming macroeconomic stability into microeconomic prosperity in the upcoming phase of the Renewed Hope programme. He outlined several aspects of the growing Nigerian economy, including reduced inflation, affordable credit, reliable power, increased manufacturing, higher exports, and enhanced purchasing power.
Furthermore, the Ooni of Ife declared that President Tinubu's commitment to ending poverty in Nigeria would soon materialize through various programs and policies implemented to alleviate poverty. The Federal Ministry of Finance noted that the country's economy is showing resilience and accelerating growth, with real GDP expanding by 4.43 percent in the second quarter of 2026, up from 4.23 percent in Q2 2025 and 3.89 percent in Q1 2026.
The ministry added that the economy is becoming more broadly based, with 27 economic subsectors recording growth rates above 3.0 percent in Q2 2026, as opposed to 23 subsectors the previous year. They also explained that the naira's relative stability and steady appreciation contributed to an expansion of the economy by approximately 17 percent in U.S. dollar terms over the period.
The government's continued macroeconomic stability, sustained growth across productive sectors, and improving investor confidence are projected to further accelerate Nigeria's progress towards becoming Africa's largest economy by 2028. The administration remains committed to accelerating inclusive growth and translating macroeconomic gains into shared prosperity for every Nigerian family.
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