Tinubu Welcomes World Bank Report, Says Economic Reforms Are Delivering Results
Tinubu said the report shows reforms since 2023 raised revenues, lifted reserves and current account surplus, and increased state capital spending.
- President Bola Tinubu welcomed the Nigeria Development Update titled "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities" on Sunday. Tinubu said the findings confirm that economic reforms are delivering results and placing the economy on a firmer footing for sustained growth.
- Removing the petrol subsidy and unifying the foreign exchange market raised revenues and stabilized the economy. Reforms increased federation revenues by 69 per cent in real terms between 2023 and 2025, with state governments emerging as the biggest beneficiaries.
- The report shows the economy grew 4.2 per cent in the first half of 2026, while gross external reserves reached $53.8 billion. States increased capital spending by 151 per cent, with 29 of 33 states shifting spending toward economic infrastructure.
- Urging states to use revenue prudently, the President emphasized the Renewed Hope Agenda. Targeted cash transfers reached more than 10 million households, with commitment to expand these programs so prosperity is shared by all Nigerians.
- The World Bank projects economic growth to average at least 4.4 per cent between 2026 and 2028. The institution expects inflation to ease to about 12 per cent by 2028, as poverty rates stabilize for the first time since 2019.
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Nigeria: Tinubu - World Bank Report Shows Our Reform On Track
President Bola Ahmed Tinubu has welcomed the World Bank's October 2026 Nigeria Development Update, saying the findings confirm that the administration's economic reforms are delivering results and placing the economy on a strong footing.
Tinubu hails World Bank Report, says reforms 're delivering, promises more relief for Nigerians
By Johnbosco Agbakwuru ABUJA — PRESIDENT Bola Tinubu has welcomed the World Bank’s latest assessment of Nigeria’s economy as fresh proof that his administration’s reforms are working, while conceding that more must be done to turn macroeconomic gains into better living conditions for ordinary households. In a statement issued on Sunday by his Special Adviser […]
Tinubu: World Bank report confirms my economic reforms are working - THE AUTHORITY NEWS
By Chesa Chesa President Bola Tinubu has welcomed the World Bank’s October 2026 Nigeria Development Update, saying its findings provide further evidence that his administration’s economic reforms are yielding results and putting the country on a stronger path to sustained growth. The report, titled Beyond the Federal Purse: How Higher Revenues...
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