Nigeria’s economy has recorded a 3.19% growth in GDP in Q2 2024, signaling economic recovery and resilience. President Bola Tinubu praised the latest report by the National Bureau of Statistics (NBS), highlighting the country’s progress towards economic stability.
The GDP growth was driven mainly by the services sector, which grew by 3.79% and contributed 58.76% to the aggregate GDP. The non-oil sector contributed 94.30% to the economy, with the financial and insurance sector, agriculture, trade, and manufacturing driving positive growth.
Reacting to the latest GDP figures, President Tinubu noted that the economy was on the right trajectory and was indeed on the path to recovery. “Our economy is recovering. Sooner than later, Nigerians will begin to feel, see, and enjoy the impact of our administration’s economic re-engineering efforts,” he said.
The President urged Nigerians to have faith in the government and not allow themselves to be swayed by naysayers bent on aborting and undermining the current reforms.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, unveiled the implementation committee of the Accelerated Stabilisation and Advancement Plan (ASAP), aimed at revitalising key sectors of the economy.
