₦airaland Forum

Nigeria’s economic reforms are beginning to show tangible results, with inflation easing to 16.05 percent in November 2025 and the country recording a real GDP growth of 3.98 percent in the third quarter, the Federal Government has announced.

Senator Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, made the disclosure on Monday at the launch of the Power of Data High Impact Initiative and the National Strategy for the Development of Statistics (NSDS) 2024–2028 in Abuja. The initiatives aim to strengthen the country’s statistical system and improve evidence-based policy-making.

Bagudu noted that since 2023, the government has supported the National Bureau of Statistics (NBS) in completing major exercises, including the rebasing of GDP and the Consumer Price Index, as well as the National Agricultural Sample Census—the first in over 30 years. These efforts are designed to close data gaps and provide reliable statistics to guide economic decisions.

“Those tough decisions are now beginning to yield returns, with headline inflation on the decline at 16.05 percent as of November and a 3.98 percent real GDP growth rate in the third quarter—the second-highest quarterly growth rate post-COVID-19,” Bagudu said.

He added that global credit rating agencies have also responded positively to Nigeria’s reforms, citing S&P Global Ratings’ upgrade of Nigeria’s outlook to Positive and Fitch Ratings’ affirmation of a Stable outlook.

Bagudu emphasized that investing in a modern statistical system offers high returns, with studies showing an average return of US$32 per dollar spent. The initiatives will focus on technology, data infrastructure, and human resource development to ensure statistics effectively drive government policies.

The Minister urged stakeholders to actively implement the NSDS and the Power of Data roadmap, stressing that evidence-based governance is key to achieving the objectives of the Renewed Hope Agenda.

Delivering his remarks, Statistician General of the Federation and NBS CEO, Prince Adeyemi Adeniran, highlighted the release of the updated Sustainable Development Goals (SDG) Tracking Exercise covering over 200 SDG-related indicators for 2024—a milestone in strengthening Nigeria’s statistical system.

He explained that the Power of Data initiative is part of twelve United Nations High Impact Initiatives aimed at accelerating SDG progress. Since aligning with the initiative in 2024, Nigeria has collaborated with partners such as OSSAP-SDGs, NITDA, UN agencies, and the World Bank to produce a roadmap with clear roles and responsibilities for implementation.

The development of the new NSDS document was the most comprehensive, inclusive, and strategic process the Bureau has ever undertaken,” Adeniran said. “Consultations included national and zonal sessions, engaging stakeholders from public and private sectors, civil society, academia, and development partners to create a shared vision for a modern, resilient statistical system capable of supporting evidence-based governance.”

He stressed that aligning the Power of Data roadmap with the NSDS ensures seamless implementation and encouraged stakeholders to adopt the DSA mantra of Recording, Sharing, and Applying data, noting that even small improvements in data handling can lead to significant gains in development outcomes and citizens’ welfare.

abc115:
Nigeria's inflation dropped further to 14.45% in November 2025.

Nigeria's headline inflation rate continued its downward trend, dropping to 14.45% year-on-year in November 2025, down from 16.05% recorded in October 2025, according to the latest Consumer Price Index (CPI) report.
https://x.com/Imranmuhdz/status/2000553095122817139

Oblongata:
Oya emergency lovers of Nigeria come and hate this news

Kelklein:
Omo.. this Abracadabra will not be sustained 😅😅😅

digitaccountant:
They are good in Economy but need to get security right.

Nigeria will be prosperous again.

atiku4President:
After rebasing. Stop deceiving people with fake data

FOLYKAZE:
In January, President Bola Ahmed Tinubu set a 15% inflation target. Many doubted it. Today, the facts have answered them. Headline inflation eased to 14.45% in November 2025, beating the target and dropping from 16.05% in October.

Jagaban is performing magic

FOLYKAZE:
In January, President Bola Ahmed Tinubu set a 15% inflation target. Many doubted it. Today, the facts have answered them. Headline inflation eased to 14.45% in November 2025, beating the target and dropping from 16.05% in October.

Jagaban is performing magic

seunoyeleyep:
I now see why you get trampled upon easily .

abc115:
https://www.vanguardngr.com/2025/12/data-reforms-yield-results-as-inflation-eases-gdp-growth-hits-3-98-fg/