GDP: FG reiterates commitment to sustainable growth

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reaffirmed Federal Government’s commitment to implementing policies to promote sustainable economic growth.

Edun said this in a statement by Mohammed Manga, the ministry’s Director, Information and Public Relations, in Abuja on Wednesday.

The GDP for Q4 2024 was released by the National Bureau of Statistics (NBS) on Tuesday.

According to the NBS report, Nigeria’s GDP rate in real terms grew by 3.84 per cent in Q4 2024 on a year-on-year basis, which was 0.38 per cent points higher than the 3.46 per cent recorded in Q3 2024.

Similarly, it was higher by 0.38 per cent basic points, relative to a similar growth rate of 3.46 per cent recorded in Q3 2024.

The report said that the annual growth rate reached 3.4 per cent in 2024, compared to 2.7 per cent recorded in 2023, with the services sector playing a significant role in driving the growth.

According to Edun, as the country continues on the path of economic growth and development, the Federal Government remains committed to implementing policies and initiatives that promote sustainable and inclusive growth.

He said that this would help improve the lives of all Nigerians.

” We are pleased to see the continued growth momentum, both from a quarterly and annual standpoint.

“It is a true testament to the resilience of the Nigerian economy and the success of President Bola Tinubu’s Renewed Hope Agenda,” Edun said.

The Minister said that the expansion of the services sector and the government’s ongoing efforts to strengthen food security through agricultural investments were yielding positive results.

He said that efforts to ensure that economic growth translated into improved livelihoods for all Nigerians continued through initiatives such as the direct benefit transfers scheme. (NAN)