Tinubu: Nigeria’s Economy Now on an Irreversible Growth Path

President Bola Tinubu has declared that his administration has placed the Nigerian economy on an irreversible path towards stronger and sustainable growth.

The President made the assertion in a statement he personally issued from London on Monday evening while on holiday.

Tinubu said the progress recorded by his administration was driven by the policies and reforms under his Renewed Hope Agenda, stressing that the government would not reverse the measures implemented over the past three years.

According to him, his administration remains committed to consolidating the economic reforms aimed at correcting long-standing distortions inherited by the government.

“We will not return Nigeria to the policies and distortions we inherited and have spent the last three years correcting,” the President said.

The statement reads:

THE RENEWED HOPE AGENDA IS WORKING

Fellow Nigerians, Our economy grew by 4.43% in the second quarter of 2026, up from 4.23% in the same period last year.

Growth was recorded across agriculture, manufacturing, oil and gas, and services, which now make the largest contribution to our GDP.

In nominal terms, our GDP reached ₦119.27 trillion, up 18.43% from ₦100.7 trillion in the same period last year.

These numbers matter because they show where our economy is going after three years of difficult but necessary reforms.

In the past three years, we tried to do the hard part by implementing the necessary reforms to stabilise the economy.

Now the economy is stabilised, and we have laid the foundation for a prosperous nation.

We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people.

The results are becoming very clear. Because of those tough decisions, Nigeria today has trade surpluses. Our foreign reserves are at their highest in 17 years.

Our credit rating has moved up several notches. Investors who left are returning. Oil and gas production is increasing.

We are building roads, railways and superhighways that will last for a long time. In our universities, for the first time in a long time, there are no strikes. Our children are in class.

Through NELFUND, student loans are putting education within reach, while affordable credit is going to our civil servants through CreditCorp.

Yet, at precisely the point when the evidence shows that our reforms are beginning to work, some in the opposition are promising Nigerians that they will reverse them.

We will not turn back.

We will not return Nigeria to the policies and distortions we inherited and have spent the last three years correcting.

I will not dignify the leaders of the opposition who now seek to take Nigeria back to its dark past by mentioning their names.

They know themselves.

In the next few weeks, we are addressing some of the challenges facing our vulnerable population by providing cheaper means of transport, ramping up food production and implementing relief programmes that will touch lives at the grassroots.

The economy is on an irreversible path towards even stronger growth but growth must be something every Nigerian can feel at the dining table and in their pocket.

That is the next phase of our work, and we are not resting on our oars. The Renewed Hope Agenda is working.

Bola Ahmed Tinubu, GCFR,

President