President Bola Ahmed Tinubu has reiterated his commitment to ensuring that Nigerians feel the tangible benefits of his administration’s economic policies.
The president’s declaration follows the release of the third-quarter Gross Domestic Product (GDP) report by the National Bureau of Statistics (NBS), which revealed a GDP growth rate of 3.46%, an improvement from the 3.19% recorded in the previous quarter.
In a statement issued by his Special Adviser on Media and Public Communications, Sunday Dare, Tinubu expressed his optimism over the growth figures but emphasized the importance of sustaining and amplifying these gains. He acknowledged that while the improved GDP performance is a step in the right direction, there is still significant work to be done to translate these numbers into improved living standards for the average Nigerian.
“I am thrilled by the latest report from the National Bureau of Statistics indicating that our economy grew in the third quarter at a rate that surpassed both last quarter’s performance and projected estimates,” Tinubu stated. “However, while this development is encouraging, it underscores the need for even greater efforts. I will not rest until every Nigerian feels the positive impact of our policies in their daily lives, whether in their pockets or their living standards.”
The president assured Nigerians that his administration remains dedicated to their welfare and is resolute in addressing the economic challenges facing Nigeria. He spoke about ongoing reforms as the cornerstone of his strategy to reposition the nation’s economy for sustained growth and shared prosperity.
“Once the economy is rebased, it will more accurately represent the immense potential and diversity of Nigeria’s economic landscape,” he added.
The president also elaborated on proposed tax reforms aimed at alleviating the tax burden on small businesses and promoting equity across the federation. He criticized the existing “headquarters effect,” where states hosting corporate headquarters disproportionately benefit from national tax remittances, and pledged to correct this imbalance through a new regime that prioritizes demographic and regional equity.
“These reforms will not only promote fairness but will also ensure that wealth is more evenly distributed across all states, fostering greater inclusivity and prosperity for all Nigerians,” Tinubu remarked.
“This performance is a testament to the resolve and direction of this administration. We are committed to the path of reform, better fiscal management, and targeted initiatives that create opportunities for all Nigerians,” Tinubu concluded.
