• About
  • Advertise
  • Contact
Monday, August 11, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Group Ascribes Improved GDP Figure To Success Of Tinubunomics

Vital News by Vital News
August 29, 2024
in Economy, News
0
Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu
Share on FacebookShare on Twitter

The Tinubu Media Support Group (TMSG) has described the latest Gross Domestic Product (GDP) figure released by the National Bureau of Statistics (NBS) as an affirmation of the success of the economic policies of the President Bola Tinubu administration.

The group in a statement signed by its Chairman, Emeka Nwankpa and Secretary, Dapo Okubanjo, in Thursday said the improvement in the GDP coincided with the first slow down in head food inflation in nearly two years.

TMSG said : “Like many Nigerians who were eagerly awaiting the latest Gross Domestic Products (GDP) figure, we see the number for the second quarter of 2024 as a sign of improvement in the economy.

“For us, it is a reflection of our belief in the capacity of President Tinubu and his economic team to weather the storm of the initial hiccups of the administration’s reforms and reverse it in due course.

“After the country had recorded its first deceleration in inflation rate in 19 months, we were upbeat that the worst was over, and of course, the latest NBS report has made it more obvious.

RelatedStories

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

Ibom Airlines Identifies Female Passenger Involved In Uyo Airport Unruly Incident As Ms Comfort Emmanson, Hands Her Over To Police

Oyebanji Dissolves Ekiti Cabinet

Israeli Strike On Gaza Kills 4 Al Jazeera Journalists

“Indeed, there had been muted signs of improvement since January 2024 when the country began to record a month-on-month slow down in inflation rate.

“But with GDP figure of Q2 2024 showing a better year-on-year growth of 3.19% than the 2.51% figure of the same period in 2023, we dare say that the economy is moving in the right direction under the watch of President Tinubu.

“What we find interesting but not surprising is the fact that the GDP growth was fueled largely by the good performance of the Services sector which recorded a growth of 3.79% and contributed 58.76% to the aggregate GDP as well as the Industry sector which grew 3.53%, a massive improvement from -1.94 % in the second quarter of 2023.

“These are pointers impacting the sector specific initiatives of the Tinubu administration.

“Here, we can point to government efforts in supporting large businesses as well as the MSMEs.

“The service sector also includes some of the areas the government is paying close attention to in terms of support with grants and loans.

“For us, all these are in line with the administration’s resolve to wean the economy off oil and transform the Nigerian economy more comprehensively.

“It is, therefore, not surprising that that in real terms, non-oil sector contributed 94.30% to the economy, higher than 93.62 % in the preceding quarter.

“And for those cynically wondering how GDP growth will ‘translate to food on the table” of Nigerians, we are of the opinion that true patriots should recognise this positive development as the begining of good things to come and as the trend continues, the impact will be felt by all.

“This is because a growing GDP is a clear indicator of the general health of an economy.

“So we make bold to say that an increase in year-on-year GDP is a sure sign that the economy is doing well and we pin it down to the policy thrust of President Tinubu who had always been emphatic about short term pain and long term economic benefits.”

The group then urged Nigerians to keep faith with the President Tinubu administration as it strives to reposition the economy.      (vitalnewsngr.com)

Tags: EconomyGDPriseTMSG
Previous Post

Kogi Govt. Congratulates Ajayi On Appointment As New D-G DSS

Next Post

Reps. Committee On Solid Minerals Backs Dangote’s Industrialization Stride

Vital News

Vital News

RelatedStories

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

August 11, 2025
Aviation

Ibom Airlines Identifies Female Passenger Involved In Uyo Airport Unruly Incident As Ms Comfort Emmanson, Hands Her Over To Police

August 11, 2025
Oyebanji Dissolves Ekiti Cabinet
News

Oyebanji Dissolves Ekiti Cabinet

August 11, 2025
Israeli Strike On Gaza Kills 4 Al Jazeera Journalists
Foreign

Israeli Strike On Gaza Kills 4 Al Jazeera Journalists

August 11, 2025
Kogi RAAMP: Gov. Ododo To Flag Off 12.5km Unosi–Odonto–Ogigiri Rural Road In Ajaokuta
Agriculture/ Water/ Mineral

Kogi RAAMP: Gov. Ododo To Flag Off 12.5km Unosi–Odonto–Ogigiri Rural Road In Ajaokuta

August 10, 2025
Next Post
Reps. Committee On Solid Minerals Backs Dangote’s Industrialization Stride

Reps. Committee On Solid Minerals Backs Dangote’s Industrialization Stride

Late Nigeria’s First Olympic Games Medalist, Nojim Maiyegun Buried In Austria

Late Nigeria's First Olympic Games Medalist, Nojim Maiyegun Buried In Austria

NNPCLtd. Dismisses Atiku’s Allegation Of Hijack By Corporate Cabals Around President Tinubu

NNPCL Reveals Plan To Hand Over Warri, Kaduna Refineries To Private Operators

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

MUSWEN Calls On Political Leaders To Allow INEC Conclude Collation, Announcement Of Presidential Election Results

MUSWEN Calls On Political Leaders To Allow INEC Conclude Collation, Announcement Of Presidential Election Results

2 years ago
2023 Elections : Nigerians In Diaspora Sue Buhari, INEC

Report Says Attempts Ongoing To Distort Outcomes Of 2023 Elections

3 years ago
Kogi Council Of Ulama’u Appeals To Nigerians To Shun Protest

Council of Ulama’u Congratulates Gov. Ododo On Supreme Court Victory

12 months ago
NDLEA Declares Prophetess Faith Ugochi, Celebrity Couple Wanted For Running Drug Cartel

Again, NDLEA Intercepts Europe-bound Meth Consignment

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Nigeria Records $3.23 billion From Non-Oil Exports

3SC New Coach, Akin Olowookere, Slumps, Dies Suddenly During Training Session

Ibom Airlines Identifies Female Passenger Involved In Uyo Airport Unruly Incident As Ms Comfort Emmanson, Hands Her Over To Police

Oyebanji Dissolves Ekiti Cabinet

Israeli Strike On Gaza Kills 4 Al Jazeera Journalists

Kogi RAAMP: Gov. Ododo To Flag Off 12.5km Unosi–Odonto–Ogigiri Rural Road In Ajaokuta

Trending

Police Arraign Ekiti Woman For Reneging On Marriage Promise After Collecting N607,500 From Suitor
Judiciary

Female Air Passenger, Comfort Emmanson, Arraigned, Remanded In Kirikiri Prison

by Vital News
August 11, 2025
0

Comfort Emmanson, the passenger who assaulted airline officials on an Ibom Air flight inbound Lagos from Uyo,...

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

Capital Inflows Into Nigeria Up By 67.12% In Q1 2025

August 11, 2025
Police Arraign Ekiti Woman For Reneging On Marriage Promise After Collecting N607,500 From Suitor

5 AL Shabab Terrorist Group Members In Kogi State Arraigned Over 2022 Attack On Owo Catholic Church

August 11, 2025
Nigeria Records $3.23 billion From Non-Oil Exports

Nigeria Records $3.23 billion From Non-Oil Exports

August 11, 2025
NFF Expels 3SC FC From  Federation Cup

3SC New Coach, Akin Olowookere, Slumps, Dies Suddenly During Training Session

August 11, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Female Air Passenger, Comfort Emmanson, Arraigned, Remanded In Kirikiri Prison August 11, 2025
  • Capital Inflows Into Nigeria Up By 67.12% In Q1 2025 August 11, 2025
  • 5 AL Shabab Terrorist Group Members In Kogi State Arraigned Over 2022 Attack On Owo Catholic Church August 11, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In