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Tinubu Welcomes World Bank Report, Says Economic Reforms Are Delivering Results
The World Bank said Nigeria’s economy grew 4.2% in the first half of 2026, with inflation easing and reserves rising.
- President Bola Tinubu welcomed the Nigeria Development Update titled "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities" on Sunday, saying findings confirm economic reforms are delivering results and placing the economy on firmer footing for sustained growth.
- Economic stability stems from decisions removing the petrol subsidy and unifying the foreign exchange market since 2023. 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, up from 3.9 per cent a year earlier. 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 and targeted cash transfers reaching more than 10 million households. He committed to expanding these programs to ensure prosperity is shared by all Nigerians.
- With poverty rates stabilizing for the first time since 2019, the World Bank projects economic growth to average at least 4.4 per cent between 2026 and 2028. Inflation is expected to ease to about 12 per cent by 2028.
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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.
·Washington, United States
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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 […]
·Nigeria
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Total News Sources21
Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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