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Tinubu Optimistic About Nigeria’s Economic Future as GDP Grows by 3.46% in Third Quarter
President Bola Tinubu has expressed confidence that Nigeria’s economy is on the path to improvement following the release of the National Bureau of Statistics’ third-quarter Gross Domestic Product (GDP) report.
The data revealed that Nigeria’s GDP grew by 3.46%, an increase from the 3.19% recorded in the previous quarter, signaling a positive trend in the country’s economic recovery.
In his remarks, President Tinubu reiterated his commitment to achieving a $1 trillion economy by 2030, a promise he remains resolute in fulfilling.
He assured Nigerians that by early 2025, when the economy is rebased to reflect its evolving sectors and greater dynamism, significant improvements will be visible.
This, he said, will pave the way for the country to experience shared prosperity and economic stability.
The GDP growth of 3.46% is largely attributed to the performance of critical sectors, including Agriculture, Transport, Education, Health, Real Estate, Finance and Insurance, ICT, Trade, and Manufacturing.
These sectors played a vital role in driving the economy forward, demonstrating the positive impact of the reforms that have been implemented under President Tinubu’s administration.
The administration’s fiscal policies, including proposed tax reforms, are also expected to contribute to the economy’s growth.
The new tax regime aims to alleviate the financial burdens on small businesses and promote equity by ensuring a more even distribution of resources across regions.
This will help address the so-called “headquarters effect,” where states with corporate headquarters receive more benefits from taxes remitted nationwide.
President Tinubu mentioned the significance of the third-quarter GDP growth, noting that it exceeded expectations and is a testament to the positive direction in which the economy is headed.
However, he acknowledged that there is still much work to be done.
“While we welcome this development, the latest figures also remind us of the work that remains.
We won’t rest until Nigerians feel the positive impacts in their pockets and experience a better living standard,” he said.
The sectors that made the most significant contributions to GDP in the third quarter of 2024 include Agriculture, which accounted for 28.65%, ICT at 16.35%, Trade at 14.78%, Manufacturing at 8.21%, Crude Oil at 5.57%, Finance and Insurance at 5.51%, and Real Estate at 5.43%.
These figures show the diverse sources of economic growth and the importance of each sector in supporting Nigeria’s overall economic performance.
Nigerian Politician and Human Rights Activist, Omoyele Sowore shows up to defend and support the NYSC corp member that has been threatened.
It can be recalled that a viral video has made its way to the country. A young lady who is serving the country laments about the government and President.
The viral video also gained the attention of NYSC, resulting to messaging the corp member. The message ordered the removal of the video and for the lady to report the office on 17th of March, 2025.
However fellow Nigerians and activists have spoken out and called to defend the Corp member against any official threat.
It was reported that Sowore arrived to the local government of the corp member to showcase support in handling the case.
Omoyele Sowore and some activists, including lawyers, accompanied Ushie Uguamaye, a Lagos-based National Youth Service Corps (NYSC) member known as Raye, to meet with her Local Government Inspector (LGI) after she was summoned over a viral video.
Raye recently gained attention after she criticized President Bola Tinubu’s administration in a TikTok video posted under her handle #talktoraye. In the video, she expressed frustration over Nigeria’s worsening economic situation and blamed Tinubu for the country’s struggles, even calling him a “terrible leader.”
Shortly after her comments went viral, Raye claimed that NYSC officials had started threatening her. As a result, she was called to appear at the LGI’s office on Monday for questioning.
On Monday, Sowore, alongside several lawyers, including Festus Ogun, Yinka Oyesomi, and Justice Ojienoh, accompanied Raye to the office to support her. However, according to Sowore, the NYSC officials were nowhere to be found. He shared on his X handle that the LGI failed to show up despite Raye being scheduled to appear.
In a recent development, former Anambra State Governor and 2023 Labour Party presidential candidate, Peter Obi, has voiced strong support for National Youth Service Corps (NYSC) member Ushie Rita Uguamaye, also known as Raye.
Raye recently gained attention after posting a TikTok video expressing her frustrations over the rising cost of living in Nigeria. In the video, she tearfully stated the increasing prices of goods and services, questioning the current administration’s efforts to address these economic challenges.
Following the video’s circulation, Raye alleged that she received threats from NYSC officials, pressuring her to remove the content and cautioning her against making political statements online.
Peter Obi took to his official X (formerly Twitter) account to condemn these alleged threats, stating that such actions are antithetical to the principles of democracy. He emphasized that silencing citizens reflects a corrupt and undemocratic government.
Obi also shared his personal experiences of facing intimidation and harassment for offering constructive criticism of government policies.
Obi called on the current administration to reflect deeply on its approach to dissent, underscoring that constructive criticism is a cornerstone of democratic progress.
He urged Nigerians to stand firm and continue advocating for a nation where freedom of speech is upheld, and leadership remains accountable, especially in critical areas like education, healthcare, and poverty alleviation.
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