The Hope Alive Initiative has lauded the economic reforms of President Bola Ahmed Tinubu, describing them as the driving force behind Nigeria’s recent robust economic performance.
In a statement signed by its Director of Press, Ernest Omoarelojie, the group highlighted data from the National Bureau of Statistics (NBS), which showed a year-on-year Gross Domestic Product (GDP) growth of 4.23 per cent in the second quarter of 2025, confirming that the administration’s reforms are delivering tangible results.
According to the initiative, before President Tinubu assumed office in May 2023, the Nigerian economy faced severe challenges, weakened by unsustainable fuel subsidies, a distorted foreign exchange system, dwindling external reserves, and low investor confidence.
“The economy was on the brink, with poverty levels deepening and the fiscal space for growth almost completely eroded,” the group said.
It added that bold policy measures including the removal of petrol subsidies, unification of the foreign exchange market, fiscal consolidation, and social interventions have begun to reverse the downward trend.
Key gains highlighted by the group include:
i. GDP growth: 4.23% in Q2 2025, up from 3.48% in Q2 2024.
ii. External reserves: now at $42 billion, bolstering investor confidence and stabilising the naira.
iii. Inflation: six consecutive months of decline, with projections for single-digit levels by 2026.
iv. Agriculture: 2.82% growth, supported by mechanisation and the National Agricultural Development Fund.
v. Industry: 7.45% expansion, reflecting a revival in manufacturing and mining activity.
vi. Trade: manufactured exports rose 173% in Q2 2025, with a 44.3% increase in trade surplus.
vii. Infrastructure: ongoing construction of 13 major roads, the Lagos-Calabar Coastal Highway, and the $3.02 billion Port Harcourt–Maiduguri Rail Line.
viii. Social protection: over N330 billion disbursed to 8.1 million households and more than N80 billion in education loans to 400,000 students.
The initiative said Nigeria’s aggregate GDP, now N100.73 trillion (up from N84.48 trillion the previous year), reflects “a tectonic shift towards a more diversified and sustainable economy.”
It commended President Tinubu and his economic team for these achievements.
The group also endorsed the Poverty Exit Plan recently unveiled by Vice President Kashim Shettima, calling it “a clear pathway to lifting 40–50 million Nigerians out of multidimensional poverty within the next decade.”
It urged Nigerians to support the administration, stay focused, and remain confident in the nation’s economic trajectory.
“Nigeria is not just recovering, it is rising,” the initiative added.
