Nigeria’s Growth Hits 4.2% As State Revenues Rise By 93% — World Bank
The bank said higher oil prices and reforms lifted state finances, while capital spending rose to 61% of total expenditure.
- On Thursday, The Washington-based World Bank reported in its October Nigeria Development Update that state revenues rose by approximately 93 per cent in real terms, while Nigeria's economy grew by 4.2 per cent in the first half of 2026.
- Macroeconomic reforms, including the removal of the fuel subsidy between 2023 and 2025, drove a 69 per cent increase in gross revenues, providing states with substantially greater fiscal resources.
- Additional resources supported higher capital spending, whose share of total state expenditure rose from 46 per cent to 61 per cent, with Transport infrastructure recording the largest increase in spending.
- World Bank Country Director for Nigeria Mathew Verghis said strengthening spending efficiency remains essential to improve Nigerians' lives, while Education's share of total expenditure fell from 14.9 per cent in 2021 to 12.1 per cent in 2025.
- The bank projected average economic growth of 4.4 per cent between 2026 and 2028, as higher Oil prices strengthened export earnings to a $12 billion current account surplus, equivalent to 7.1 per cent of GDP, in early 2026.
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States got richer as Nigeria’s revenue rose by 93% - World Bank report
The Washington-based World Bank has disclosed that revenues allocated to states, or subnational governments in Nigeria grew by 93 per cent in real terms over two years. The bank made this disclosure in its October Nigeria Development Update on Thursday. According to the World Bank, revenue allocations to states surged following the removal of fuel subsidy between […] States got richer as Nigeria’s revenue rose by 93% – World Bank report
Nigerian states’ revenue rises 93%, education spending falls — World Bank
Nigeria’s 36 states recorded a 93 per cent increase in revenue between 2023 and 2025, but education’s share of total expenditure declined, the World Bank has said. The bank disclosed this in its latest Nigeria Development Update, which examined how increased public revenue has influenced spending priorities across the federation. The report was made available […]
Nigerian states’ revenues rise 93%, but education spending drops — World Bank
The World Bank reports that Nigerian states’ revenues rose by 93% between 2023 and 2025, but the share of expenditure on education declined. Read More: https://punchng.com/nigerian-states-revenues-rise-93-but-education-spending-drops-world-bank/
Nigeria: States’ revenues surge 93% to fuel capital projects – World Bank
WorldStage– Macroeconomic structural reforms have unlocked a massive fiscal windfall for Nigeria’s 36 subnational economies, driving aggregate state revenues up by 93% in real terms between 2023 and 2025. However, a significant pivot toward hard infrastructure has come at the expense of human capital development, raising critical long-term investment and productivity risks. According to the […]
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