President Bola Tinubu has declared his unwavering commitment to ensuring that the benefits of his economic policies are felt by the Nigerian people.
He made this declaration in response to the recently released third quarter Gross Domestic Product (GDP) report by the National Bureau of Statistics, which revealed that Nigeria’s GDP has grown by 3.46 percent, surpassing the 3.19 percent growth seen in the previous quarter.
In a statement issued by his Special Adviser on Media and Public Communications, Sunday Dare, the President expressed confidence that “once the economy is rebased by early 2025 to accurately reflect its dynamism and record the significant changes across various sectors,” the nation will be on the path to shared prosperity.
“I am excited by the latest report from the National Bureau of Statistics that our economy grew in the third quarter more than last quarter and even beyond projected estimates. While I welcome this development, the latest figure also shows the much work that needs to be done.
We won’t rest until Nigerians feel the positive impacts in their pockets and experience a better living standard. My administration remains committed to the welfare of our people.
This performance once again shows that the reforms embarked upon by the Tinubu administration to reposition the economy and ensure better fiscal management are beginning to yield fruits.
The proposed tax reforms also indicate the administration’s resolve to reduce the tax burden on small businesses and spread prosperity to the poor. The new Tax regime seeks to promote equity by reducing what is known as the headquarters effect – a situation where states, where company headquarters are based, get more benefits because their taxes for the whole nation are remitted – in favour of spatial and demographic equity.” the statement reads in part.
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