The World Bank has said that Nigeria’s ongoing economic reforms under President Bola Tinubu’s administration have begun to yield positive macroeconomic results. It, however, warned that the gains are still yet to deliver better living conditions for most Nigerians.
In its latest Nigeria Development Update (NDU) report released on Wednesday in Abuja, titled “From Policy to People: Bringing the Reform Gains Home,” the World Bank broke down the nation’s key policy priorities to ensure that ongoing reforms lead to inclusive and sustainable growth.
According to the World Bank, the nation’s economy expanded by 3.9 per cent year-on-year in the first half of 2025, compared to 3.5 per cent during the same period in 2024, and the growth was driven by stronger performance in services and non-oil industries, as well as improvements in oil production and agriculture.
The report stated that despite the noticeable gains and macroeconomic stability, the positive turn is yet to translate into tangible relief for households, and food inflation/poverty levels remain high.
“The Nigerian government has taken bold steps to stabilise the economy, and these efforts are beginning to yield results.
But macroeconomic stability alone is not enough. The true measure of success will be how these reforms improve the daily lives of Nigerians—especially the poor and vulnerable,” Mathew Verghis, World Bank Country Director for Nigeria,” it read.
World Bank’s Senior Economist for Nigeria, Samer Matta, further noted that even though the economic outlook remains cautiously optimistic, with growth projected to rise from 4.2 per cent in 2025 to 4.4 per cent in 202, inflation would continue to pose a major challenge.
Matta concluded by emphasising the need for continued monetary discipline and sustained structural reforms to ensure the benefits of economic recovery get to ordinary Nigerians.
“Food inflation remains the biggest tax on the poor,” he added.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
