At 32nd Nigerian Economic Summit, Tinubu Says His Govt Is Rewriting Nation’s Decades-old Story of Economic Underperformance
.Stresses economic reforms are restoring confidence, laying foundation for sustainable growth Deji Elumoye in Abuja President Bola Tinubu on Monday disclosed that his government is rewriting Nigeria’s decades-long story of
President Bola Tinubu inaugurated the 32nd Nigerian Economic Summit in Abuja, proclaiming that his government is rewriting Nigeria's historical pattern of economic underachievement. The reforms spearheaded by the administration aim to dismantle structural impediments, unleash the nation's untapped potential, and generate employment, productivity, and prosperity for all citizens.
Tinubu conceded that the path to economic growth is demanding, but his government embarked on a "reset" to address the nation's sluggish performance. The summit's theme, "Growth That Works: Delivering Jobs, Productivity and Shared Prosperity," reflects the administration's commitment to achieving a prosperous and inclusive Nigeria by 2030.
Tinubu highlighted several achievements of the government's economic reforms, including a 3.89% inflation-adjusted GDP growth in the first quarter of 2026, compared to 3.13% a year earlier. The administration also reported that non-oil activities contributed 96.08% to the GDP, while manufacturing and oil sectors expanded by 3.29% and 2.57%, respectively.
Tinubu emphasized the need to improve the quality of work, reduce underemployment, and harness the potential of the underutilised workforce. The President outlined several measures to attract investment, such as easing regulatory burdens, strengthening transparency, policy predictability, and expanding access to finance. He also stressed the importance of reforming the electricity market to enhance supply and encourage investment in generation, transmission, distribution, and alternative energy sources.
Despite the progress made, Tinubu acknowledged that the task of economic transformation is far from complete. He encouraged young Nigerians to continue competing globally in technology, financial services, and creative industries. The United Nations Deputy Secretary-General, Dr. Amina Mohammed, commended the Tinubu administration's reforms and urged their consolidation.
Dr. Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, presented the Nigerian Economic Policy Framework, inviting experts to provide valuable feedback on the proposed economic strategy.
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