World Bank report affirms reform gains — Tinubu

President Bola Tinubu welcomed the World Bank's latest Nigeria Development Update on Sunday, stating that the findings confirm his economic reforms are working. The October 2026 report, titled 'Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities,' revealed that the poverty rate has stabilised for the first time since 2019.

The report projected that poverty will decline gradually as GDP grows faster than the population. Tinubu noted that the economy grew 4.2 percent in the first half of 2026, up from 3.9 percent in the same period the previous year. He attributed this growth to reforms since 2023, which raised federation revenues by 69 percent in real terms between 2023 and 2025.

The World Bank also projected that inflation will ease to about 12 percent by 2028, despite higher global fuel prices linked to the Middle East conflict. The report credited reforms for increasing capital spending by 151 percent in real terms in states, with most of the funds going to roads, transport, agriculture, energy, and housing.