Nigeria's president has set a target of 7% annual economic growth, aiming to lift the country out of its financial struggles. In the first quarter, Nigeria's economy grew by 3.13%, a figure boosted by a rebasing of its gross domestic product (GDP).
Breakdown
- President Tinubu sets a 7% annual economic growth target for Nigeria.
- Nigeria's economy grew by 3.13% in the first quarter after GDP rebasing. 9s
- GDP rebasing increased Nigeria's economy size to $243 billion. 15s
- Tinubu cites economic reforms and investor confidence, but notes low public savings as a constraint. 25s
- Reforms include ending gas subsidies and currency devaluation to boost investment and save government funds. 36s