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原文原文 / Original TextPresident Bola Tinubu yesterday defended his administration's economic reforms, citing stronger economic growth, rising foreign reserves and increased revenues to states, and welcomed last week's World Bank report indicating Nigeria's steady economic growth.
The president also disclosed that the federal government had forgone more than N3.3 trillion in fuel taxes and duties to cushion the impact of rising petrol prices, while highlighting the expansion of compressed natural gas (CNG) transportation as part of efforts to reduce the cost of living.
The president's comments on the reforms came as the country emerged among the top 10 recipients of the $112 billion private capital mobilised by the World Bank Group in the year ended June 2026, according to information from the global lender.
Besides, the presidency has again knocked the fuel production subsidy being proposed by former Vice President and candidate of the African Democratic Congress (ADC) in the January 2027 presidential poll, Atiku Abubakar, describing it as 'unrealistic'.
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However, in a statement issued by his Adviser on Information and Strategy, Bayo Onanuga, Tinubu said the World Bank's October 2026 Nigeria Development Update, titled: "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities," confirmed that the difficult decisions taken since 2023 were beginning to yield results.
Tinubu said the removal of the petrol subsidy, unification of the foreign exchange market and efforts to strengthen fiscal discipline had increased government revenues, stabilised the economy and created room for federal and state governments to invest in development.
"These findings confirm that the difficult but necessary decisions to remove the petrol subsidy, unify the foreign exchange market and strengthen fiscal discipline have raised revenues, stabilised the economy and created fiscal space for every tier of government to invest in its people.
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来源：AllAfrica (https://allafrica.com/)
原文链接：https://allafrica.com/stories/202610120120.html
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