Tinubu pledges to ensure Nigerians feel economic impact
Following the release of the third-quarter Gross Domestic Product (GDP) report by the National Bureau of Statistics, President Bola Tinubu has reassured Nigerians of improved economic performance as the economy continues to grow.
According to the NBS, Nigeria’s GDP expanded by 3.46 percent, an increase from the 3.19 percent growth recorded in the second quarter.
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The growth in Nigeria’s GDP underscores President Tinubu’s commitment to driving a stronger economy and improving the standard of living for all Nigerians.
With a 3.46 percent growth, the country is showing signs of recovery from the unintended impacts of recent reforms.
Commenting on the development, Tinubu reiterated his administration’s unwavering goal of achieving a $1 trillion economy by 2030.
In a statement issued by his Special Adviser on Media and Public Communications, Sunday Dare, the President emphasized that “once the economy is rebased by early 2025 to reflect its dynamic nature and the significant changes across various sectors,” Nigeria will be on the path to shared prosperity.
The President expressed his optimism, saying: “I am pleased with the latest report from the National Bureau of Statistics, showing that our economy grew in the third quarter, surpassing both the previous quarter and even our projected estimates. While I welcome this progress, the latest figures also highlight the considerable work still ahead.”
He added, “We will not rest until Nigerians feel the positive impacts in their pockets and experience a better quality of life. My administration remains steadfast in its commitment to the welfare of our people.”
The President further stated that the performance reflects the success of the reforms undertaken by his administration to reposition the economy and ensure better fiscal management.
He also pointed to the proposed tax reforms as evidence of the administration’s commitment to reducing the tax burden on small businesses and promoting prosperity for the less privileged. The new tax regime, he explained, aims to foster equity by addressing the “headquarters effect,” where states hosting company headquarters benefit more from national taxes, in favor of a more balanced distribution of resources across states.
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