President Bola Tinubu has welcomed the World Bank's latest assessment of Nigeria's economy, saying it confirms that his administration's reforms are working. In a statement issued on Sunday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the October 2026 Nigeria Development Update, titled "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities," confirmed that the removal of petrol subsidy, foreign-exchange unification and fiscal discipline had begun to stabilise the economy. Tinubu said the reforms have raised revenues, stabilised the economy and created fiscal space for every tier of government to invest in its people. He, however, conceded that more must be done to turn macroeconomic gains into better living conditions for ordinary households.
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