Wale Edun, minister of finance and coordinating minister of the economy, says 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.
Earlier, the National Bureau of Statistics (NBS) said Nigeria’s GDP rate expanded by 3.84 percent in the fourth quarter (Q4) of 2024.
The economy also recorded a 3.4 percent annual growth in 2024, up from 2.7 percent in 2023.
Commenting on the growth in a statement on Tuesday by Mohammed Manga, director of information and public relations, ministry of finance, Edun said the expansion marked the country’s fastest growth rate in three years.
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“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.”
The minister also highlighted the government’s initiatives to enhance food security and improve livelihoods through targeted programmes like the direct benefit transfers scheme.
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“The expansion of the services sector and our ongoing efforts to strengthen food security through agricultural investments are yielding positive results,” Edun added.
“Efforts to ensure that economic growth translates into improved livelihoods for all Nigerians continue through initiatives such as the direct benefit transfers scheme.”
Edun 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.
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