The Hope Alive Initiative (HAI) has said that the latest surge in Nigeria’s Gross Domestic Product (GDP) shows that President Bola Tinubu’s economic reforms are beginning to yield meaningful gains.

According to the National Bureau of Statistics (NBS), the country’s GDP grew by 4.23 per cent year-on-year in real terms in the second quarter (Q2) of 2025, compared to 3.48 per cent in the same quarter of 2024.

In a statement signed on Wednesday by its Director of Press, Ernest Omoarelojie, the group described the growth as proof that the administration’s policy choices are restoring stability and confidence to the economy. It recalled that before President Tinubu assumed office in May 2023, the economy was in dire straits, weakened by unsustainable fuel subsidies, a distorted foreign exchange regime, dwindling external reserves, and low investor confidence.

“The economy was on the brink, with poverty levels deepening and the fiscal space for growth almost completely eroded,” HAI stated.

The group noted that courageous policy measures, including the removal of fuel subsidy, unification of the foreign exchange market, fiscal consolidation, and social interventions, have now begun to turn the tide. It highlighted the GDP growth of 4.23 per cent in Q2 2025, external reserves standing at $42 billion which is boosting investor confidence and stabilising the naira, and six months of consistent decline in inflation with projections for single-digit levels by 2026.

It also pointed to renewed growth in agriculture and manufacturing, with agricultural investment rising by 2.82 per cent, supported by mechanisation and the National Agricultural Development Fund, while manufacturing and mining recorded 7.45 per cent expansion. Nigeria’s aggregate GDP now stands at N100.73 trillion, up from N84.48 trillion the previous year, which the group described as “a tectonic shift towards a more diversified and sustainable economy.”

HAI commended President Tinubu and his economic team, endorsing the Poverty Exit Plan recently unveiled by Vice President Kashim Shettima. It said the plan provides a clear pathway to lifting 40 to 50 million Nigerians out of multidimensional poverty within the next decade.

The group urged Nigerians to support the administration, avoid distractions, and remain confident in the country’s economic direction. “Nigeria is not just recovering, it is rising,” the statement said.