Tinubu Says World Bank 2026 Report Vindicates His Economic Reforms

According to a report by Nigerian Tribune on Sunday, October 11, 2026, President Bola Ahmed Tinubu has declared that the World Bank’s 2026 report has validated his administration’s economic reforms amid persistent criticism from opposition parties over his economic policies.

According to a statement signed by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, the report highlighted improvements in Nigeria’s economic performance, including increased growth, declining inflation and rising external reserves.

The Presidency stated that Nigeria’s economy expanded by 4.2 per cent in the first half of 2026, compared with 3.9 per cent recorded during the corresponding period in 2025, despite the effects of the conflict in the Middle East.

It added that the World Bank projected Nigeria’s economic growth to average at least 4.4 per cent between 2026 and 2028.

The statement also noted that inflation declined significantly from 27.6 per cent in January 2025 to 15.2 per cent in December of the same year.

However, the Presidency acknowledged that rising global fuel prices associated with the Middle East conflict had slowed the downward trend in inflation. Despite this development, the World Bank reportedly expects inflation to ease to approximately 12 per cent by 2028.

Onanuga further disclosed that the international financial institution recognised the improvement in Nigeria’s external reserves and current account position.

According to the statement, Nigeria’s current account surplus increased to $12 billion, representing 7.0 per cent of gross domestic product, during the first half of 2026. This was higher than the $8.6 billion recorded in the corresponding period of the previous year.

The Presidency also revealed that the country’s gross external reserves rose from $45.5 billion at the end of 2025 to $53.8 billion by the end of August 2026.

Tinubu’s administration considers these economic indicators evidence that its reform measures are yielding results, despite concerns raised by opposition parties about the impact of its policies on Nigerians.

The report’s findings have provided the Presidency with an opportunity to defend its economic direction and highlight improvements in key economic indicators.

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