BY CHIKA OKEKE, Abuja
There is an indication that Nigeria's economic outlook improved significantly in 2026, recording over four percent growth rate, even as oil and non-oil sectors contributed to the renewed period of stable growth.
Specifically, the country recorded its highest revenue from non-oil exports since its existence, exceeding $6 billion in 2025, even as foreign exchange market and reserves stabilised.
President Bola Tinubu provided the statistics while addressing Nigerians on the 66th Independence Anniversary on Thursday in Abuja, with the theme: "From Reforms to Prosperity."
He said: "Three and a half years later, the evidence that Nigeria's economic outlook has improved is undeniable. Our economy has grown by over 4 per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth.
"Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt, our foreign exchange market has stabilised, and in 2025 this country recorded its highest revenue from non-oil exports in its history, exceeding $6 billion."
The President denied claims that the fiscal and economic reforms introduced hardship, despite increased poverty and high cost of living across the country.
"Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come," he added.
The President pointed out that international observers, journalists, Non-governmental Organisations (NGOs) and multilateral institutions noticed the positive outlook, concluding that the reforms strengthened Nigeria's economic stability and resilience.
He stated that the private sector had endorsed the economic growth, even as Foreign Direct Investment (FDI) continues to rise annually.
Tinubu said: "When I speak of prosperity, I do not speak merely of a larger economy, abstract numbers or better statistics. I mean something much more personal.I mean a Nigeria in which the farmer can cultivate his land safely, produce more at lower cost, and earn a decent return for his labour.
"A Nigeria in which factories have reliable power, businesses can obtain credit, and young people can find productive work. A Nigeria in which food and transportation are affordable, education is within reach, and hard-working families can look towards the future with confidence."
The President informed that one of the priorities of his administration is to trim down the cost of living, which will be achieved by lowering the cost of producing and moving the things Nigerians consume.
He vowed that his administration is focused on irrigation and dry-season farming, improving access to seeds and fertiliser, holistically increasing mechanisation, and investing in storage and transportation.
Tinubu promised to support businesses that revive ailing factories, just as he opened up on plans to expand digital connectivity into underserved communities.
The President assured that his government will invest in skills needed by employers, as well as support Nigerian businesses with the requisite infrastructure and finance to excel.
Promising to place jobs, enterprise, and industrial growth at the heart of its policies, Tinubu desires to see Nigerian businesses selling Nigerian goods to the entire world.
He said: “I am also conscious that millions of our fellow citizens cannot wait for tomorrow. Some Nigerian families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money to get to work.
“Their circumstances did not begin with the reforms of the last three years. Their struggle is the accumulated consequence of decades of low productivity, inadequate infrastructure, insufficient opportunity and institutions that too often failed those who needed them most.”
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