Nigerian economy grew by 4% in 2026 – President Tinubu

President Bola Tinubu has declared that the evidence of Nigeria’s improved economic outlook is undeniable, noting that the economy grew by 4% in 2026.

Addressing Nigerians on Thursday, October 1, 2026, to mark the nation’s 66th Independence Day celebrations, Tinubu said his administration’s reforms did not create the weaknesses in the economy; rather, they confronted them.

According to the president, oil theft is on the decline while inflation has fallen substantially.

“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult.

“The side effects were real. Yet, we must never confuse the medicine with the disease.

“Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come.

“Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable. Our economy has grown by over 4 per cent this year.

“Both oil and non-oil sectors have contributed to the renewed period of stable growth.

“Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt, our foreign exchange market has stabilised, and in 2025 this country recorded its highest revenue from non-oil exports in its history, exceeding $6 billion.

“This is real money being made by real Nigerian businesses.

“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience.

“The private sector has long since delivered its verdict, and foreign direct investment continues to rise each year,” Tinubu said.