Tinubu Defends Economic Reforms as Nigeria Records 4% Growth in 2026

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President Bola Tinubu announced on Thursday that Nigeria’s economy expanded by more than four per cent in 2026, pointing to key macroeconomic gains while acknowledging the persistent cost-of-living pressures facing millions of households.

Delivering a nationwide broadcast to mark Nigeria’s 66th Independence Anniversary, the President defended his administration’s economic adjustments, asserting that the nation has moved past emergency stabilization toward a phase of sustained growth.

According to figures cited in the national address, the country’s GDP growth exceeded four per cent over the past year, driven by steady recovery across both oil and non-oil sectors. The administration also reported a substantial decline in inflation from earlier peaks, a stabilized foreign exchange market, rebuilt foreign reserves, and a significant drop in crude oil theft.

Additionally, non-oil export revenue reached an all-time high of over $6 billion in 2025, which government officials pointed to as evidence that economic diversification policies are yielding tangible results.

Despite highlighting these positive indicators, President Tinubu addressed the ongoing financial strain affecting everyday citizens across the country.

The Federal Government reiterated its commitment to shifting focus toward lowering the cost of producing and moving essential consumer goods, aiming to ease living expenses and improve household purchasing power nationwide.