The Hope Alive Initiative, a good governance advocacy group, has commended the Federal Government’s economic reforms under President Bola Tinubu, describing them as the driving force behind Nigeria’s latest GDP growth and improving economic outlook.
In a statement signed by its Director of Press, Ernest Omoarelojie, the group said National Bureau of Statistics (NBS) data showing 4.23 per cent GDP growth in the second quarter of 2025, up from 3.48 per cent in the same period of 2024, demonstrates that the reforms are yielding tangible results.
According to the group, before Tinubu’s administration took office in May 2023, the economy was weakened by unsustainable fuel subsidies, a distorted foreign exchange regime, dwindling reserves, and declining investor confidence.
It credited policy measures such as petrol subsidy removal, forex market unification, fiscal consolidation, and targeted social interventions with reversing the downward trend.
Key gains highlighted include:
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GDP growth of 4.23% in Q2 2025;
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External reserves rising to $42 billion, boosting investor confidence and stabilising the naira;
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Six consecutive months of declining inflation, with projections of single-digit levels by 2026.
The group also noted sectoral growth, citing agriculture at 2.82% driven by mechanisation and the Agricultural Development Fund; industry at 7.45% reflecting revived manufacturing and mining; and trade, where manufactured exports surged 173% and trade surplus rose by 44.3%.
It added that infrastructure projects such as 13 major roads—including the Lagos–Calabar Coastal Highway—and the $3.02 billion Port Harcourt–Maiduguri Rail Line are reshaping the economy, while social protection efforts have supported 8.1 million households with over N330 billion and provided N80 billion in education loans to 400,000 students.
Nigeria’s aggregate GDP, now N100.73 trillion compared to N84.48 trillion a year earlier, reflects “a tectonic shift towards a more diversified and sustainable economy,” the group said.
Commending Tinubu and his economic team, the Hope Alive Initiative also endorsed the Poverty Exit Plan unveiled by Vice President Kashim Shettima, which aims to lift up to 50 million Nigerians out of multidimensional poverty within the next decade.
It urged Nigerians to support the administration and remain confident in the country’s economic trajectory.
