Nigeria's GDP Reaches $307.5 Billion Following Tinubu Reforms

A report by Quartus Economics indicates that Nigeria's economy is recovering from years of fiscal crises and policy failures. The research house notes that the nation's GDP grew from $181 billion in 2023 to $252 billion in 2024, eventually reaching $307.5 billion in 2025.

This trajectory is attributed to reforms launched by President Bola Ahmed Tinubu since May 2023, including the removal of fuel subsidies, banking industry recapitalization, and the devaluation of the naira. These measures contributed to foreign reserves hitting a 13-year high of $50.5 billion in February, although they simultaneously triggered a severe cost-of-living crisis for citizens.

Nigeria's economic output grew by 22% in 2025, a rate that outperformed most sub-Saharan African nations except Ghana. Despite the recovery, the report warns that acute power shortages and infrastructure deficits remain the primary obstacles to achieving the government's goal of a $1 trillion economy by 2030.