Nigeria Economic Reforms Show Poverty Stabilization

President Tinubu welcomed the World Bank’s October 2026 Nigeria Development Update, titled Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities. The President stated the report confirms economic reforms are delivering results and strengthening the economy for sustained growth.

The World Bank found Nigeria’s poverty rate stabilized for the first time since 2019, with gradual declines anticipated as Gross Domestic Product growth exceeds population growth. President Tinubu linked this trend to the administration’s fiscal discipline measures.

The President noted the World Bank’s projection of at least 4.4 per cent economic growth for Nigeria between 2026 and 2028, attributing this forecast to the removal of petrol subsidies and unification of the foreign exchange market.