“Says Nigeria’s economy is improving”
The Hope Alive Initiative, a good governance advocacy group, has lauded the economic reforms of the Federal Government under President Bola Ahmed Tinubu, describing them as the driving force behind Nigeria’s recent strong economic performance.
In a statement signed by its Director of Press, Ernest Omoarelojie, the group noted that data from the National Bureau of Statistics (NBS) showing a year-on-year GDP growth of 4.23 per cent in the second quarter of 2025 confirms that the administration’s reforms are yielding results.
According to the group, before President Tinubu assumed office in May 2023, the economy 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,” the group said.
It added that bold policy measures, including the removal of petrol subsidy, unification of the foreign exchange market, fiscal consolidation, and social interventions have now begun to turn the tide.
Among the notable gains highlighted were:
GDP growth of 4.23% in Q2 2025, compared to 3.48% in Q2 2024; external reserves, now at $42 billion, are boosting investor confidence and stabilising the naira; and inflation, with six months of consistent decline, is projected to reach single-digit levels by 2026.
According to the group, other key areas of remarkable performance are in the area of agriculture with 2.82% growth, supported by mechanisation and the National Agricultural Development Fund; industry includes 7.45% expansion, reflecting renewed manufacturing and mining activity; and trade, as manufactured exports are up 173% in Q2 2025, with a 44.3% rise in trade surplus.
Additionally, the group noted that Infrastructure development is gaining momentum, with ongoing construction of 13 major roads, including the Lagos-Calabar Coastal Highway, and the $3.02 billion Port Harcourt–Maiduguri Rail Line. Additionally, social protection is on the rise, with over N330 billion disbursed to 8.1 million households, and more than N80 billion allocated for education loans to 400,000 students.
The group said Nigeria’s aggregate GDP, now N100.73 trillion (up from N84.48 trillion the previous year), reflects “a tectonic shift towards a more diversified and sustainable economy.”
Commending President Tinubu and his economic team, the Hope Alive Initiative also endorsed the Poverty Exit Plan recently unveiled by Vice President Kashim Shettima, which it said offers “a clear pathway to lifting 40–50 million Nigerians out of multidimensional poverty within the next decade.”
It 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 group said.