{
  "id": 13793131,
  "title": "Tinubu: World Bank report shows our reform on track",
  "url": "https://urgent.news/2026/10/11/tinubu-world-bank-report-shows-our-reform-on-track",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-11T18:50:38.000Z",
  "source": {
    "name": "Daily Trust",
    "slug": "daily-trust",
    "url": "https://dailytrust.com/tinubu-world-bank-report-shows-our-reform-on-track/"
  },
  "original_language": "en",
  "account": "President Bola Ahmed Tinubu has welcomed the World Bank's October 2026 Nigeria Development Update, stating that the findings confirm the administration's economic reforms are delivering results. The update, titled Beyond the Federal Purse, highlights how higher revenues have reshaped state priorities. According to the World Bank, the poverty rate has stabilised for the first time since 2019, and is expected to gradually decline as GDP grows faster than the population. In the first half of 2026, the economy grew 4.2 percent, up from 3.9 percent in the first half of 2025, despite the impact of the Middle East conflict. The World Bank expects growth to average at least 4.4 percent between 2026 and 2028. Inflation has also fallen, from 27.6 percent in January 2025 to 15.2 percent in December 2025. Higher global fuel prices have slowed the decline, but the World Bank projects inflation to ease to around 12 percent by 2028. The report credits reforms since 2023 for raising federation revenues by 69 percent in real terms between 2023 and 2025. The World Bank also found that internally generated revenue grew in real terms in 31 of 35 states, and 21 states reduced their debt-to-GDP ratio between 2021 and 2025. Nigeria's overall public debt is expected to fall from 40.0 percent of GDP in 2025 to 38.1 percent in 2026. Tinubu's Special Adviser on Information and Strategy, Bayo Onanuga, said the report shows the economy is on a strong footing, and that the dividends of reform are becoming visible. The President reiterated that his administration will continue with reform and focus on inclusive growth under the Renewed Hope Agenda, promising to expand targeted cash transfers, accelerate the deployment of CNG, raise agricultural productivity, and improve access to healthcare and education. He urged state governments to use their higher revenues prudently and prioritise projects that improve the living standards of Nigerians.",
  "summary": "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. The update was titled Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities. In its reaction, the President noted the […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}