President Bola Ahmed Tinubu don welcome di World Bank October 2026 Nigeria Development Update, and e talk say di findings confirm say di administration economic reforms dey produce results and dey put di economy on strong ground.

Di update title na Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities.

Inside im reaction, di President note di World Bank finding wey show say poverty rate don stabilise for di first time since 2019, and e add say di Bank dey expect poverty to reduce small small as GDP dey grow pass population.

Di President reaction wey Bayo Onanuga, im Special Adviser on Information and Strategy, sign, talk say di report show say di economy grow 4.2 per cent for di first half of 2026, up from 3.9 per cent for di first half of 2025, even with di impact of di conflict for Middle East.

E talk say di World Bank project say growth go average at least 4.4 per cent between 2026 and 2028.

On prices, di report note say inflation fall from 27.6 per cent for January 2025 to 15.2 per cent for December 2025. Higher global fuel prices wey link to di Middle East conflict don slow di decline since then, but di World Bank dey expect inflation to cool down to about 12 per cent by 2028.

Di report give credit to di reforms since 2023 say e raise federation revenues by 69 per cent in real terms between 2023 and 2025, with states as di biggest beneficiaries.

Onanuga talk say di World Bank also find say, "internally generated revenue grow in real terms for 31 of 35 states; 21 states reduce dia debt-to-GDP ratio between 2021 and 2025 and Nigeria overall public debt dey expected to fall from 40.0 per cent of GDP for 2025 to 38.1 per cent for 2026."

According to di Presidency, "These findings confirm say di difficult but necessary decisions to remove petrol subsidy, unify di foreign exchange market and strengthen fiscal discipline don raise revenues, stabilise di economy and create fiscal space for every level of government to invest for dia people."