President Bola Ahmed Tinubu has urged state governors to deploy elevated revenues extra prudently and prioritise initiatives that immediately enhance the residing requirements of Nigerians, notably in well being, training and infrastructure.
The President made the decision whereas reacting to the World Bank’s October 2026 Nigeria Development Update titled: “Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities.”
According to a assertion issued on Sunday by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu stated the report confirmed that financial reforms launched since 2023 had elevated authorities revenues and created extra fiscal house for investments throughout the three tiers of presidency.
The report discovered that federation revenues rose by 69 per cent in actual phrases between 2023 and 2025, with state governments rising as the most important beneficiaries.
It additionally confirmed that states elevated capital expenditure by 151 per cent in actual phrases over the identical interval, with a lot of the extra spending directed in the direction of roads and different transport infrastructure, agriculture, vitality and housing.
According to the World Bank, 29 of 33 states shifted their spending in the direction of financial infrastructure, whereas actual social spending per individual elevated in all however one state.
Reacting to the findings, Tinubu urged state governments to make sure that the extra assets translated into tangible enhancements within the welfare of residents.
“I urge state governments to use their higher revenues more prudently and prioritise projects that improve the living standards of Nigerians, and the health and education of our people,” he stated.
The President additionally welcomed the report as proof that his administration’s financial reforms have been yielding outcomes and inserting the economic system on a firmer footing for sustained development.
The World Bank report indicated that Nigeria’s economic system grew by 4.2 per cent within the first half of 2026, in contrast with 3.9 per cent within the corresponding interval of 2025.
It projected that financial development would common a minimum of 4.4 per cent between 2026 and 2028.
The report additional famous that Nigeria’s poverty fee had stabilised for the primary time since 2019, with the Bank projecting a gradual decline as financial development outpaces inhabitants development.
Tinubu, nonetheless, acknowledged that extra work was wanted to make sure that the good points from the reforms translated into improved residing situations for households, notably by means of decrease meals costs and elevated employment alternatives for younger folks.
“The dividends of reform are becoming visible. But more work remains to ensure they fully translate into better living standards for every household, starting with lower food prices and decent jobs for our young people,” he stated.
The President reaffirmed his administration’s dedication to inclusive development below the Renewed Hope Agenda, promising to broaden focused money transfers, speed up the deployment of compressed pure fuel (CNG), improve agricultural productiveness and enhance entry to reasonably priced healthcare and high quality training.
He stated focused money transfers had already reached greater than 10 million households.
Tinubu additionally recommended the Economic Management Team, led by the Minister of Finance and Coordinating Minister of the Economy, alongside state governors and different stakeholders, for his or her cooperation in implementing the reforms.
He maintained that the administration would maintain its reform programme below the Renewed Hope Agenda 2.0, with a deal with accelerating shared prosperity throughout the nation.
We’ve received the sting. Get real-time stories, breaking scoops, and unique angles delivered straight to your telephone. Don’t accept stale information. Join LEADERSHIP NEWS on WhatsApp for twenty-four/7 updates →
