Nigeria, Oct. 12 -- President Bola Tinubu has applauded the latest World Bank's Nigeria Development Update, noting that the findings are a testament to the fact that the country's economic reforms are bearing fruit.

In a statement by Bayo Onanuga, his special adviser on information and strategy, on Sunday, Mr Tinubu said the update shows his administration's reforms have put the economy on a sound footing for sustained growth.

Since taking office in 2023, Mr Tinubu has pursued an array of reforms aimed at speeding up economic growth in Africa's most populous country.

Those reforms include removal of costly fuel subsidies, unification of exchange rates, revamp of the nation's tax system and recapitalisation of the banking and insurance ...