President Bola Ahmed Tinubu’s administration has recorded 3.4% increase in Nigeria’s annual Gross Domestic Product (GDP) after two years in office, data from StatiSense, a Nigerian data hub shows.
WikkiTimes’ analysis of the data reveals that Tinubu’s economic growth performance is weak compared to past Nigerian presidents in their first two years, except for his immediate predecessor, Muhammadu Buhari.
According to the figures, Nigeria’s GDP rose from $76.68 billion when Tinubu assumed office to $79.29 billion two years later.
While this reflects relative growth, it falls short when compared to the records of former presidents within a similar timeframe.
Under President Buhari, the GDP declined the worst, from $69.02 billion to $68.49 billion, a 0.77% contraction that coincided with a global oil crisis and internal policy missteps.
President Goodluck Jonathan oversaw a 9.74% GDP rise in his first two years from $54.61 billion to $59.93 billion.
President Umaru Musa Yar’Adua achieved an impressive 15.34% jump from $43.39m to $50.04m, while former President Olusegun Obasanjo lifted the economy by 11.23% during his initial years in office, with GDP $23.97m to $26.66m in his first two years in office.
Economic analysts stressed that Tinubu’s start may reflect the lingering effects of fuel subsidy removal, naira devaluation, and rising inflation, all of which have eroded consumer confidence and industrial output.
However, the government insists that the policies are already yielding positive outcomes for the economy.
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