The Federal Government has expressed optimism about the economy with the 3.84 per cent year-on-year Gross Domestic Product (GDP) growth disclosed by the Nigerian Bureau of Statistics.
The government also renewed its commitment to faithfully implementing its economic policies which it credited for this development.
The National Bureau of Statistics (NBS) released the 2024 fourth quarter GDP outcome – 3.84 per cent, compared to the 3.46 per cent of Q4 2023 which shows that Services and petrol refining sectors were the key drivers of the growth.
Statistician-General of the Federation, Prince Adeyemi Adeniran, said the growth was 0.38 per cent points higher than the 3.46 per cent of Q4 2023.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed his satisfaction with the report, which indicates that the economy has achieved its fastest growth rate in three years.
In a statement for the ministry, Edun lauded the positive indicators, which he attributed to the effectiveness of President Bola Tinubu’s Renewed Hope Agenda and the resilience of the Nigerian economy.
He assured of the government’s commitment to ensuring that economic growth translates into tangible improvements in the living standards of all Nigerians.
In pursuit of this goal, the Federal Government is actively implementing various initiatives, including the direct benefit transfer scheme aimed at providing immediate economic relief and support to the vulnerable.
These efforts are designed to ensure that the benefits of economic growth are equitably distributed across the nation.
Mr Edun reiterated the government’s unwavering commitment to implementing policies and initiatives that foster sustainable and inclusive growth.
According to him, the administration remains focused on creating an environment that promotes economic stability, attracts investment, and generates employment opportunities for Nigerians.
