By Joseph Erunke, Abuja

The Hope Alive Initiative has lauded President Bola Ahmed Tinubu’s economic reforms, attributing Nigeria’s recent economic gains to policies introduced since his assumption of office in May 2023.

In a statement signed by its Director of Press, Ernest Omoarelojie, the group cited data from the National Bureau of Statistics (NBS), which showed a 4.23 percent GDP growth in the second quarter of 2025, compared with 3.48 percent in the same period of 2024. According to the group, this reflects that reforms are beginning to yield results.

It noted that before May 2023, Nigeria’s economy was weighed down by fuel subsidies, a distorted foreign exchange regime, dwindling external reserves, and low investor confidence.

The group listed measures such as subsidy removal, forex unification, fiscal consolidation, and social intervention programmes as key drivers reversing these trends.

Key indicators highlighted include:

GDP growth of 4.23% in Q2 2025, up from 3.48% in Q2 2024.

External reserves of $42 billion, credited with boosting investor confidence.

Six months of steady decline in inflation, with projections of single-digit levels by 2026.

Agricultural sector growth of 2.82%, supported by mechanisation and the National Agricultural Development Fund.

Industrial growth of 7.45%, driven by manufacturing and mining.

Manufactured exports up by 173% in Q2 2025, with a 44.3% rise in trade surplus.

Major infrastructure projects, including 13 key roads, the Lagos-Calabar Coastal Highway, and the $3.02 billion Port Harcourt–Maiduguri Rail Line.

Disbursement of N330 billion to 8.1 million households and over N80 billion in education loans to 400,000 students.

The group further noted that Nigeria’s aggregate GDP has risen to N100.73 trillion from N84.48 trillion in the same quarter of 2024, describing it as “a shift towards a more diversified and sustainable economy.”

It also endorsed the Poverty Exit Plan recently unveiled by Vice President Kashim Shettima, which targets lifting 40–50 million Nigerians out of multidimensional poverty within the next decade.

Urging Nigerians to support the administration’s efforts, the group concluded: “Nigeria is not just recovering—it is rising.”