President Bola Tinubu has reaffirmed his administration’s commitment to economic reform and global engagement following reports of Nigeria’s strongest quarterly growth in a decade.
At Thursday’s Federal Executive Council (FEC) meeting in Abuja, Tinubu said the government would “move forward with unity and purpose” to overcome challenges and build a resilient economy under the Renewed Hope Agenda.
Finance and Economy Minister Wale Edun revealed that Nigeria’s Gross Domestic Product (GDP) expanded by 4.23% in Q2 2025, marking the nation’s best performance since the post-COVID-19 rebound. He noted that 13 sectors recorded growth above 7%, up from nine in the previous quarter — a sign of “broad-based economic resilience.”
Edun added that inflation fell to 18%, foreign reserves rose above $43 billion, and the trade surplus hit N7.4 trillion. The industrial sector nearly doubled its growth to 7.45%, buoyed by rising productivity and renewed investor interest.
He also cited Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list and the €2.35 billion Eurobond issuance — which drew over $13 billion in investor orders — as proof of growing global confidence in Nigeria’s reform trajectory.
Tinubu welcomed the news, saying the oversubscribed Eurobond demonstrated “strong faith in Nigeria’s fundamentals despite political headwinds.”
Edun said the administration’s next phase would prioritise investment-friendly reforms, tariff reviews, fiscal transparency, and asset optimisation to drive annual growth to 7% by 2027 and achieve a $1 trillion economy by 2030.
