President Bola Tinubu has pledged unwavering commitment to ensuring Nigerians feel the positive impact of his administration’s economic policies.
This assurance followed the release of the third-quarter Gross Domestic Product (GDP) report by the National Bureau of Statistics (NBS), which revealed a growth rate of 3.46%—an improvement from the 3.19% recorded in the second quarter.
In a statement by his Special Adviser on Media and Public Communications, Sunday Dare, the President expressed optimism about the nation’s economic trajectory:
“I am excited by the latest report from the NBS that our economy grew in the third quarter beyond last quarter and projected estimates. While I welcome this development, it shows there is still much work to be done. We won’t rest until Nigerians feel the positive impacts in their pockets and experience a better living standard.”
Tinubu attributed the growth to reforms undertaken by his administration, aimed at repositioning the economy and ensuring improved fiscal management.
He highlighted forthcoming tax reforms as a key strategy to ease the burden on small businesses and promote equity:
“The new tax regime seeks to reduce what is known as the headquarters effect—a situation where states hosting company headquarters get disproportionate benefits—in favor of spatial and demographic equity.”
The President also mentioned plans to rebase Nigeria’s economy by early 2025 to reflect dynamic changes across sectors, a move he said would propel the nation toward shared prosperity.
Tinubu reiterated his administration’s focus on improving the welfare of Nigerians and ensuring sustainable economic growth.