Group Hails Tinubu’s Economic Reforms, Cites Bloomberg, World Bank Reports

The Democracy Watch Initiative (DWI), has commended President Bola Tinubu’s economic policies, citing reports attributed to Bloomberg Economics and the World Bank as evidence of improvements in Nigeria’s investment climate, economic growth and fiscal performance.

The organisation also called on state governments to channel increased revenue allocations into infrastructure, healthcare, education, agriculture and job creation to ensure that the benefits of economic reforms reach Nigerians at the grassroots.

In a statement by the Director of Strategic Communication of DWI, Dr Tunji Bamidele, while reacting to the reports, which he said indicated progress under the Federal Government’s Renewed Hope Agenda.

According to Bamidele, the reports highlight improvements in Nigeria’s investment outlook, economic growth, foreign reserves and revenue generation, while projecting a gradual decline in poverty.

He said: “Investment Confidence Restored: According to the 2026 Bloomberg Economics Investment Risk-O-Meter, Nigeria jumped four places to 8th position in Africa—surpassing Rwanda, Tanzania, Kenya, and Namibia—due to significant structural improvements in fiscal policy, foreign exchange management, and the power sector.

“Poverty Stabilized and Easing: The World Bank’s October 2026 Nigeria Development Update reveals that Nigeria’s poverty rate has stabilized for the first time since 2019, with poverty projected to steadily decline as economic growth outpaces population growth.

“Strong Economic Growth: The national economy expanded by 4.2% in H1 2026 (up from 3.9% in H1 2025), with medium-term projections averaging 4.4% between 2026 and 2028.

“Declining Inflation & Rising Reserves: Inflation saw a dramatic drop from 27.6% in early 2025 down to 15.2% by December 2025, with expectations to ease to 12% by 2028. Meanwhile, Gross External Reserves surged to $53.8 billion as of August 2026, up from $45.5 billion at year-end 2025, backing a robust current account surplus of $12.0 billion (7.0% of GDP).

“Grassroots Empowerment & State Development: Federation revenues grew by 69% in real terms between 2023 and 2025, directly empowering state governments. Consequently, states increased capital spending by 151% in real terms, channeling critical funds into road infrastructure, agriculture, energy, housing, and social services that directly benefit everyday citizens.

“For years, difficult economic structural defects held our country back. President Bola Ahmed Tinubu took the tough, bold decisions—removing the fuel subsidy, unifying the foreign exchange market, and restoring fiscal discipline—not for short-term political gain, but for the long-term prosperity of every Nigerian.

“Today, the results are clear. From rural communities where state-level infrastructure and social spending have surged, to national figures showing falling debt-to-GDP ratios and rising foreign reserves, the dividends of reform are reaching our people.

“The Democracy Watch Initiative stands firmly with President Tinubu as his administration transitions into the Renewed Hope Agenda 2.0, which promises expanded targeted cash transfers (already serving over 10 million households), cheaper transport via Compressed Natural Gas (CNG), boosted agricultural productivity, and affordable healthcare.”

The DWI urged state governments to ensure that increased federation allocations translated into measurable improvements in the living conditions of their residents.

The organisation also commended the Federal Government’s economic management team, state governors and Nigerians for their cooperation during the reform process.

He added, “We commend the Economic Management Team, state governors, and the resilient citizens of Nigeria for their patience and cooperation. The Democracy Watch Initiative re-dedicates itself to mobilizing, educating, and supporting citizens across all 774 local government areas as the administration builds an inclusive and prosperous Nigeria. The tough phase is yielding progress, and the best is yet to come.”