Tinubu’s Reforms May Double GDP Growth Next Year- CBN Dep. Gov.

The deputy governor of the Central Bank of Nigeria, Kingsley Obiora has declared that the policies being implemented by President Bola Tinubu may double the country’s economic growth from 3 percent next year.

Obiora spoke on Monday in an interview with Bloomberg.

In his inaugural speech on May 29, President Bola Tinubu set a target to increase the gross domestic product (GDP) growth rate of the country by 6 percent (on average) in the next four years through budgetary reforms aimed at stimulating the real sector of the economy.

On June 9, a report by KPMG Nigeria said the target “seems overly ambitious” and may be difficult to achieve.

However, expressing his optimism during the interview, Obiora insisted that the growth rate was possible.

“Reforms being implemented by President Bola Tinubu may result in economic growth rate doubling next year from about 3 percent this year,” the deputy governor said.

“From next year, when this president will have his own budget, his own policies will be fully on track, I completely expect us to do 5 percent to 6 percent next year.