Our Economy Now Flourishing Despite Hardship – Minister
Minister of Budget and Economic Planning, Senator Atiku Bagudu, has highlighted President Bola Tinubu’s “bold reforms” from the last two years, asserting that they are steadily preparing Nigeria’s economy for lasting recovery and growth, despite current hardships.
Meanwhile, a member of the recently launched North West Development Commission, Aminu Suleiman, appealed to Nigerians for patience with Tinubu, suggesting that his two years in office have been more effective than the preceding administration’s entire eight-year term.
Both officials spoke on Saturday night after visiting Tinubu at his Lagos home, with Bagudu emphasising that Nigeria is beginning to see the positive outcomes of long-overdue economic changes.
He said, “We’re not where we want to be, but these steps have turned the economy in the right direction.”
The minister emphasised that the Tinubu administration’s decision to end costly subsidies on fuel, foreign exchange, and electricity was pivotal.
“Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult. By cutting these subsidies, we freed up resources. Today, subnational governments, states, and local governments have nearly tripled the funds they had before. That’s transformative”, Bagudu added.
The funds, Bagudu noted, are being channelled into critical sectors: infrastructure, agriculture, consumer credit, digital innovation, and human capital development. “These are not abstract promises. We are seeing real allocations going to security, education, and economic empowerment,” he added.
He said the reforms are already inspiring a resurgence of investor confidence.
“One of the greatest differentiators between developed and developing countries is the level of investment. Both public and private. We are now correcting years of neglect. That is a Herculean task, and that is central to reforms.
“There is a visible return of private capital, both domestic and international. Investors are taking Nigeria seriously again. They see a government that’s making tough but necessary choices.
“When someone starts by filling the hole under a house, you might think they’ve done nothing because you don’t yet see the walls. But President Tinubu has been honest. He said from the start: we’re in a hole, not because we want to blame the past, but because critical decisions were delayed for too long,” he said
“They’ve stated publicly why they joined, because of the sincerity and direction of this leadership. That’s not politics. That’s belief in a future that is being built with courage and vision,” he said.
According to the minister, as Nigerians celebrate Eid and the second anniversary of the Tinubu administration, “the administration’s reforms are working, investments are rising, despite challenges besetting the country.”
Also speaking to journalists shortly after paying a Sallah homage to the President at his Ikoyi residence in Lagos, a member of NWDC, Suleiman, praised Tinubu’s leadership, insisting that the President is laying the groundwork for long-term transformation.
“Tinubu’s two years is even better than the past government’s eight years. Given the full privilege of a four-year term, I am confident he will transform Nigeria,” Suleiman said.