I Won’t Rest Until Nigerians Feel Economic Impact – Tinubu

• President Bola Tinubu pledged to improve Nigerians’ economic conditions, citing a 3.46% GDP growth in the third quarter of 2024
• Tinubu aims for a $1 trillion economy by 2030, emphasizing ongoing reforms and plans to rebase the economy by 2025

President Bola Tinubu has pledged to ensure that Nigerians experience tangible economic improvements as the nation’s economy grows steadily.

The National Bureau of Statistics (NBS) recently reported a 3.46% growth in Nigeria’s Gross Domestic Product (GDP) for the third quarter, an increase from the 3.19% growth recorded in the second quarter.

This performance signals progress in the President’s commitment to a stronger economy and improved living standards for citizens.

Tinubu acknowledged the latest GDP figures as an encouraging sign of recovery from the unintended effects of recent economic reforms. He reaffirmed his administration’s goal of achieving a $1 trillion economy by 2030, emphasizing that work is ongoing to achieve this target.

In a statement issued by his Special Adviser on Media and Public Communications, Sunday Dare, Tinubu expressed optimism about the country’s economic trajectory.

He noted that plans to rebase the economy by early 2025 would capture changes across various sectors and pave the way for shared prosperity.

“I am pleased with the report from the NBS that our economy grew in the third quarter, surpassing the last quarter and exceeding projections,” Tinubu stated. “However, there is still much work ahead. We will not rest until Nigerians feel the benefits in their daily lives and experience an improved standard of living.”

The President highlighted the positive impact of his administration’s economic reforms, focusing on better fiscal management and increased equity. He also pointed to upcoming tax reforms to reduce the burden on small businesses and ensure a fairer distribution of tax benefits across regions.

“The new tax regime will promote equity by addressing the headquarters effect, where states hosting company headquarters disproportionately benefit from national taxes. This approach will foster spatial and demographic fairness,” Tinubu explained.

The administration’s efforts signal a clear commitment to fostering inclusive growth and ensuring the economic recovery benefits all Nigerians.