‘We’ll rekindle Nigerians’ hope and confidence’, says Tinubu on NBS economic growth report

President Bola Tinubu has promised to rekindle the hope and confidence of Nigerians.

President Tinubu said this on Monday, after a report from the National Bureau of Statistics (NBS) on Nigeria’s Gross Domestic Product (GDP) indicates that the economy is on the right trajectory.

Accorsing to the NBS, the country’s GDP grew by 3.2 percent year on year in the second quarter (Q2) of 2024, higher than the 2.51 percent recorded in the same period of 2023.

In a statement by Bayo Onanuga,the Speci Adviser to the President on Media and Strategy, Tinubu stated that the economy is on the right path to recovery, following a previous report indicating declining food and headline inflation.

“As the President said in his August 4, 2024 national broadcast, our economy is recovering. Sooner than later, Nigerians will begin to feel, see, and enjoy the impact of his administration’s economic re-engineering efforts,” the presidency said.

“We want to reiterate that this government will continue to work assiduously to rekindle Nigerians’ hope and confidence. President Tinubu is working to build a solid and resilient economy.”

Onanuga said Tinubu urged Nigerians to maintain their faith in the government and not be influenced by critics seeking to abort or undermine the ongoing reforms for their selfish ends.

With crude production rising to 1.41 million barrels per day, according to NBS, compared with 1.22 million barrels a year earlier, Tinubu said output will increase further.

“We are confident that with the policies we have put in place, we expect production to rise to about two million barrels very soon,” Tinubu said.

NBS said the nominal GDP for Q2 2024 stood at N60.93 trillion while the real GDP was N18.29 trillion.