National Telescope national telescope newspaper
By Ekpeyoung Emmanuel
President Bola Ahmed Tinubu has expressed optimism about the economy, stating that “indicators have shown that the economy is responding positively to stimulus.”
Speaking on Wednesday while presenting the 2024 budget to a joint session of the National Assembly, Tinubu outlined the administration’s commitment to boosting economic growth through strategic fiscal measures. He noted that the 2025 budget would focus on stimulating the economy by implementing targeted public expenditures and specific non-inflationary spending plans.
The President highlighted promising economic indicators, suggesting that Nigerians would soon experience a more functional and thriving economy. He pointed to global economic growth projections and domestic achievements as evidence of recovery.
“The global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress,” Tinubu said.
He further stated that Nigeria’s economy grew by 3.46 percent in the third quarter of 2024, compared to 2.54 percent during the same period in 2023. Additionally, the country’s foreign reserves have risen to nearly $42 billion, providing a strong safeguard against external shocks. Nigeria’s trade surplus, now at ₦5.8 trillion according to the National Bureau of Statistics, reflects rising exports and a recovering economy.
“These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset,” he added.
Tinubu emphasized that the administration’s priorities for the 2025 budget include enhancing national security, creating economic opportunities, investing in youth development, advancing infrastructure, and fostering national re-orientation.
“But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory,” he concluded.
