Nigeria GDP growth hits 4.23% in Q2 2025, with Sunday Dare saying the expansion validates President Tinubu’s reform agenda

The National Bureau of Statistics, in its report released on Monday, said the Q2 expansion outpaced the 3.48 per cent recorded in the same period last year and the 3.13 per cent posted in Q1 2025.

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Reacting via his X account, Dare noted that the figures reflect the viability of policy measures introduced by the Tinubu administration across multiple sectors.

“This latest NBS figure has again validated the viability of the reforms under President Bola Tinubu,” he wrote.

According to the NBS, stronger output in industry, agriculture, and services contributed to the improved performance.

The report also linked part of the expansion to the recent rebasing of the country’s Gross Domestic Product, which updated the base year from 2010 to 2019.

The rebasing exercise widened the scope of economic measurement, capturing new and fast-growing sectors such as the digital economy, fintech, creative industries, and informal activities.

This recalibration boosted Nigeria’s nominal output and improved its debt sustainability indicators.

As a result, Nigeria’s public debt-to-GDP ratio dropped to 39.4 per cent in Q1 2025, even as total debt rose to N149.39 trillion. The figure comprised N78.76 trillion in domestic borrowings and N70.63 trillion in external loans.

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Observers say the latest data signals cautious optimism, suggesting that Tinubu’s reform drive may be beginning to take hold, though challenges around inflation, unemployment, and revenue mobilisation remain pressing.