President Bola Tinubu has welcomed a World Bank report which shows Nigeria's external reserves reaching $53.8 billion. The report indicated that 29 of 33 states shifted spending towards economic infrastructure, while real social spending per person increased in all but one state. Internally generated revenue grew in real terms in 31 of 35 states, and 21 states reduced their debt-to-GDP ratios between 2021 and 2025. Tinubu hailed the findings as evidence of progress in the country's economic management.
Don't miss out on breaking stories and in-depth articles.
