…outpaced IMF’s 3.4% projection in Q2
By Abubakar Yunusa
President Bola Tinubu says Nigeria’s economy is recovering rapidly, with a 4.23 percent gross domestic product (GDP) growth in the second quarter (Q2) of 2025.
The National Bureau of Statistics (NBS) released the report for Q2 2025 in September, noting that the GDP marked the fastest pace in four years.
In his Independence Day address on Tuesday, Tinubu said the Q2 growth under his leadership shows the economy is recovering fast.
Tinubu also said the reforms, which started over two years ago, are delivering tangible results as the GDP growth outpaced the 3.4 percent projected by the International Monetary Fund (IMF).
“Inflation declined to 20.12% in August 2025, the lowest level in three years,” he said.
“The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.”
In July, the NBS said Nigeria’s annual gross domestic product (GDP) rate was 3.13 percent in the first quarter (Q1) of 2025 — higher than the 2.27 percent recorded in the first quarter of 2024.
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