news
Just IN : Tinubu hails GDP surge, assures of stronger economic performance, Says Onanuga
President Bola Ahmed Tinubu has welcomed the latest report by the National Bureau of Statistics (NBS) showing a 3.2% year-on-year growth in the country’s Gross Domestic Product (GDP) in the second quarter of 2024.
According to NBS, the real GDP grew by 3.2% year on year in Q2, higher than the 2.51% recorded in the same period of 2023.
This was contained in a statement issued on Monday, August 26, by the special adviser to the president on information and strategy, Bayo Onanuga.
“After another report on declining food and headline inflation, this latest report affirms that the economy is on the right trajectory and is indeed on the path to recovery.
“As the President said in his August 4, 2024, national broadcast, our economy is recovering. Sooner than later, Nigerians will begin to feel, see, and enjoy the impact of his administration’s economic re-engineering efforts.
“We want to reiterate that this government will continue to work assiduously to rekindle Nigerians’ hope and confidence. President Tinubu is working to build a solid and resilient economy.
President Tinubu urged Nigerians to retain their faith in the government and not allow themselves to be swayed by naysayers, intent on aborting and undermining the current reforms for their selfish ends.
According to the NBS report, the growth rate in Q2 is higher than the 2.51% recorded in Q2 2023 and higher than the 2.98% growth in Q1 2024.
The GDP’s performance in the second quarter of 2024 was driven by the service sector, which recorded a growth of 3.79% and contributed 58.76% to the aggregate output.
The agriculture sector grew by 1.41% in contrast to the 1.50% recorded in the second quarter of 2023. The industrial sector’s growth was 3.53%, up from the -1.94% recorded in the second quarter of 2023.
The NBS also reported that crude production grew to 1.41 million barrels per day, compared with 1.22 million barrels a year earlier.
“We are confident that with the policies we have put in place, we expected production to rise to about two million barrels very soon,” President Tinubu said.
In terms of share of the GDP, the industry and services sectors contributed more to the aggregate GDP in the second quarter of 2024 compared to the corresponding quarter of 2023.
“In the quarter under review, aggregate GDP at basic price stood at N60,930,000.58 million in nominal terms.
“This performance is higher than the second quarter of 2023, which recorded an aggregate GDP of N52,103,927.13 million, indicating a 16.94% year-on-year nominal growth”, the statement said.
news
BREAKING: Court Puts Off El-Rufai’s Bail Hearing, Sets New Date
![]()
The Federal High Court in Kaduna on Tuesday adjourned the hearing of the bail application filed by former Kaduna State Governor, Nasir El-Rufai, till Wednesday.
The adjournment followed proceedings that took place under tight security, reflecting heightened public interest in the high-profile corruption trial.
Counsel for the ex-governor, Ukpong Akpan, confirmed the development shortly after the session but declined to give details.
“I’m sorry, I can’t talk now, we are in the middle of work. I have to go and file responses. The hearing of the bail application has been adjourned till tomorrow,” he said.
Shortly after the court rose, El-Rufai was escorted out of the premises by operatives of the Independent Corrupt Practices and Other Related Offences Commission in a white Hilux vehicle.
Earlier, the former governor had returned to court amid heavy security for the continuation of proceedings on his bail request.
The security arrangement mirrored the situation during his arraignment last week when he was first docked before the court.
El-Rufai is standing trial before Justice Rilwan M. Aikawa on a 10-count charge bordering on alleged conversion and possession of public property as well as money laundering.
He was brought to court after spending over a month in detention, a development that has continued to draw widespread attention across the country.
The court had earlier fixed March 31, 2026, for the hearing of all pending applications, including the bail request.
However, the anti-graft agency had on March 27, 2026, released him on compassionate grounds following the death of his mother, Hajiya Ummar El-Rufai, in Cairo, Egypt.
In a related development, the former governor was earlier on Tuesday arraigned before a Kaduna State High Court sitting in Kawo on separate charges.
At the State High Court, he was docked alongside one Amadu Sule on allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.
The charges, also filed by the anti-corruption commission, are separate from those before the Federal High Court.
After the proceedings at the State High Court, the commission moved El-Rufai to the Federal High Court within the same premises for continuation of proceedings.
With the adjournment, the hearing of the bail application is expected to resume on Wednesday.
news
Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones
![]()
Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.
In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.
Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.
He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.
Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.
The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.
On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.
“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”
He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”
news
Araraume Salutes Tinubu’s Vision, Lists Key Achievements on Birthday
Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising his leadership style and the series of reforms that have shaped the country’s direction since he assumed office.
In a statement issued on Saturday, Araraume described the President as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that Tinubu’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long-term national development.
Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long-standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.
He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.
Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long-term vision for a more productive Nigeria.
The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programmes aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.
On the diplomatic front, Araraume praised Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.
“As we celebrate this milestone, it is important to recognise the resilience and determination with which President Tinubu has approached the task of nation-building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”
He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”
-
news5 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle6 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health5 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle5 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health6 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
health6 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment1 year agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news10 months agoBREAKING: Tinubu swears in new NNPCL Board