President Bola Tinubu has expressed optimism about Nigeria’s economic recovery following the release of the third-quarter Gross Domestic Product (GDP) report by the National Bureau of Statistics (NBS). The report reveals a 3.46% growth in GDP, an improvement from 3.19% in the previous quarter, signaling positive momentum as the country continues to rebound from recent economic reforms.

In a statement released by his Special Adviser on Media and Public Communications, Sunday Dare, President Tinubu reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2030.

“I am excited by the latest report from the National Bureau of Statistics that our economy grew in the third quarter more than last quarter and even beyond projected estimates. While I welcome this development, the latest figure also shows the much work that needs to be done,” Tinubu remarked, assuring Nigerians that his administration will continue to focus on policies that improve living standards.

The President noted that a rebase of the economy in early 2025 would further position Nigeria for shared prosperity, taking into account significant developments across various sectors.

“This performance once again shows that the reforms embarked upon by the Tinubu administration to reposition the economy and ensure better fiscal management are beginning to yield fruits,” he added.

He also touched on proposed tax reforms aimed at easing the burden on small businesses and promoting economic fairness. The reforms aim to tackle the “headquarters effect” by redistributing tax revenues more equitably across states, benefiting the broader economy.

With ongoing reforms and a focus on inclusive growth, President Tinubu remains confident about Nigeria’s path toward greater economic prosperity.