Minister of finance and coordinating minister of the economy, Wale Edun, has said that Nigeria’s latest gross domestic product (GDP) growth figures are a testament to the resilience of the economy and the success of President Bola Tinubu’s Renewed Hope Agenda.
The National Bureau of Statistics (NBS) said on Tuesday that Nigeria’s GDP rate expanded by 3.84 per cent in the fourth quarter (Q4) of 2024 and also recorded a 3.4 per cent annual growth in 2024, up from 2.7 per cent in 2023.
The minister, reacting to the development in a statement by Mohammed Manga, director of information and public relations in the ministry, said the expansion marked the country’s fastest growth rate in three years.
“We are pleased to see the continued growth momentum, both from a quarterly and annual standpoint,” he said.
“It reflects the impact of our economic policies and ongoing efforts to strengthen key sectors, particularly services and agriculture,” Edun was quoted to have said.
The minister also highlighted the government’s initiatives to enhance food security and improve livelihoods through targeted programmes like the direct benefit transfers scheme.
“The expansion of the services sector and our ongoing efforts to strengthen food security through agricultural investments are yielding positive results.
“Efforts to ensure that economic growth translates into improved livelihoods for all Nigerians continue through initiatives such as the direct benefit transfers scheme,” the minister added.
He further said as Nigeria continues on its path of economic growth and development, the federal government remains committed to implementing policies and initiatives that promote sustainable and inclusive growth, ultimately improving the lives of all Nigerians.
