President Bola Tinubu says his administration’s economic reforms are laying the foundation for sustainable growth, increased investment and improved living standards.
Tinubu, represented by Vice-President Kashim Shettima, spoke on Monday at the 32nd Nigerian Economic Summit in Abuja, where he defended the government’s decision to undertake difficult economic reforms.
‘We came to rewrite the story of a nation that has performed below its potential for far too long,’ he said, adding that the reforms were aimed at creating opportunities for jobseekers, farmers, manufacturers and entrepreneurs.
The President said Nigeria’s economy grew by 3.89 per cent in real terms in the first quarter of 2026, compared with 3.13 per cent in the same period last year.
He added that non-oil activities contributed 96.08 per cent of the country’s Gross Domestic Product, while capital importation rose to $10.37bn during the quarter, an increase of 83.83 per cent year-on-year.
Tinubu said his administration would continue to pursue policies to attract investment, improve electricity supply, strengthen businesses and boost productivity.
He, however, acknowledged that economic progress must translate into tangible benefits for Nigerians, insisting that the ultimate goal was to improve livelihoods rather than simply record favourable economic figures.
Earlier, United Nations Deputy Secretary-General Amina Mohammed called for the consolidation of Nigeria’s economic reforms and better management of public expectations. She also praised the African Development Bank for prioritising development financing across the continent.