‘There Is No Shortcut to Economic Growth’ - Tinubu Defends Tough Reforms
Tinubu said the reforms are restoring confidence and laying the groundwork for jobs, productivity and shared prosperity, while the government seeks to ease business constraints.
- On Monday, President Bola Tinubu, represented by Vice President Kashim Shettima, opened the 32nd Nigerian Economic Summit in Abuja, defending his administration's tough economic reforms as necessary to overcome years of underperformance.
- Tinubu stated there is "no shortcut to economic growth," explaining that his administration initiated a "difficult reset" to dismantle structural barriers preventing Nigeria's abundant resources from yielding prosperity.
- Nigeria's inflation-adjusted GDP grew by 3.89% in the first quarter of 2026, compared with 3.13% a year earlier, with non-oil activities accounting for 96.08% of GDP, manufacturing growing 3.29%, and the oil sector 2.57%.
- BUA Group Founder Abdulsamad Rabiu commended improved foreign exchange access, while Minister of Finance Taiwo Oyedele presented the Nigerian Economic Policy Framework, establishing how Nigeria makes economic decisions and measures progress.
- United Nations Deputy Secretary-General Amina Mohammed urged consolidation and stabilization of these reforms, as Tinubu emphasized the need to improve work quality and harness Nigeria's under-utilised workforce potential.
11 Articles
11 Articles
Nigeria: NESG - We're Rewriting Nigeria's Story of Under-Performance
ABUJA -- President Bola Tinubu said yesterday that his administration is rewriting Nigeria's decades-long story of economic under-performance through far-reaching reforms designed to dismantle structural barriers, unlock the nation's enormous potential and deliver jobs, productivity and shared prosperity.
Economic reforms restoring confidence, ensuring sustainable growth
President Bola Tinubu says his administration’s economic reforms are restoring confidence and laying the groundwork for sustainable growth in Nigeria. Read More: https://punchng.com/economic-reforms-restoring-confidence-ensuring-sustainable-growth-tinubu/
Reforms rewrite Nigeria’s story of underperformance, says Tinubu
By Cross Udo, Abuja President Bola Tinubu on Monday declared that his administration’s economic measures were beginning to rewrite Nigeria’s longstanding story of underperformance, while laying the foundation for sustainable growth. Tinubu said the policies were dismantling structural barriers, restoring investor confidence and creating conditions for increased productivity, employment and shared prosperity. The …
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