Nigeria Is Recording Unprecedented Economic Growth-Group

A civil society organization, Hope Alive Initiative, HAI, has stated that recent upward movement of Nigeria's Gross Domestic Product, GDP, is an indication that the economic reforms being implemented by the Bola Ahmed Tinubu-led administration are beginning to yield positive results.

The group, which made the statement in a release issued in Abuja and released to the press by its Director of Press, Ernest Omoarelojie, on wednesday, referenced the statistics released by the National Bureau of Statistics, NBS, indicating that the country’s GDP grew by 4.23 per cent year-on-year in real terms in the second quarter (Q2) of 2025, compared to 3.48 per cent in the same quarter of 2024.

Describing the growth as proof that the administration’s policy choices are restoring stability and confidence to the economy, the group recalled that before assuming office in May 2023, President Tinubu met an economy that was in dire straits weakened by unsustainable fuel subsidies, a distorted foreign exchange regime, dwindling external reserves and low investor confidence.

“The economy was on the brink, with poverty levels deepening and the fiscal space for growth almost completely eroded,” it said in the statement.

The group also noted that the President's courageous policy measures, including the removal of fuel subsidy, unification of the foreign exchange market, fiscal consolidation, and social interventions, are now turning the tide.

It highlighted the GDP growth of 4.23 per cent in Q2 2025, external reserves standing at $42 billion which is boosting investor confidence and stabilising the Naira, and six months of consistent decline in inflation with projections for single-digit levels by 2026.

It also pointed to the renewed growth in agriculture and manufacturing, with agricultural investment rising by 2.82 per cent, supported by mechanisation and the National Agricultural Development Fund, while manufacturing and mining recorded 7.45 per cent expansion.

Nigeria’s aggregate GDP,  HAI said, now stands at N100.73 trillion, up from N84.48 trillion the previous year, which it described as “a tectonic shift towards a more diversified and sustainable economy.”

HAI commended President Tinubu and his economic team, endorsing the Poverty Exit Plan recently unveiled by Vice President Kashim Shettima, noting that the plan provides a clear pathway to lifting 40 to 50 million Nigerians out of multidimensional poverty within the next decade.

The group urged Nigerians to support the administration, avoid distractions, and remain confident in the country’s economic direction. “Nigeria is not just recovering, it is rising,” the statement said.