Tinubu’s Reforms Laying Solid Foundation for Nigeria’s Economic Recovery — Bagudu, Suleiman
The Minister of Budget and Economic Planning, Senator Atiku Bagudu, has commended President Bola Ahmed Tinubu for implementing what he described as bold and necessary economic reforms over the past two years. According to him, although the policies have come with short-term discomfort, they are setting Nigeria on the path toward sustainable economic recovery and long-term growth.
Speaking on Saturday night after a courtesy visit to President Tinubu at his Lagos residence, Bagudu emphasized that the administration’s economic decisions—particularly the removal of fuel, foreign exchange, and electricity subsidies—were essential measures aimed at redirecting Nigeria’s economic trajectory.
“We are not yet where we want to be, but these reforms have started turning the economy in the right direction,” the minister said.
He explained that the elimination of long-standing subsidies, which had drained national resources for decades, had unlocked financial opportunities for development. “Before now, under-investment had made even the payment of salaries a struggle. By ending these subsidies, we’ve freed up significant resources. Today, subnational governments—states and local governments—are receiving nearly triple the funds they used to have. That’s a game changer,” Bagudu noted.
He highlighted that the increased revenue is now being redirected into priority sectors such as infrastructure, agriculture, digital innovation, human capital development, and consumer credit. “This is not just rhetoric. We are witnessing real, tangible allocations going into education, security, and economic empowerment,” he said.
Bagudu also pointed out that these reforms are beginning to restore investor confidence in Nigeria. “One of the key differences between developed and developing nations is the volume of investment—both public and private. We are working hard to fix years of neglect, and that’s no small feat,” he stated.
He compared the current stage of reform to foundational work on a building, saying: “When someone starts by fixing the foundation of a house, it might look like nothing has been done yet. But President Tinubu has been transparent from the start. We are in a hole—not because we are pointing fingers, but because critical decisions were delayed for too long.”
Bagudu further highlighted the increasing number of opposition figures joining the ruling All Progressives Congress (APC), including governors from Delta and Akwa Ibom states, as evidence of the growing trust in Tinubu’s leadership. “They didn’t just cross over for politics. They did so because they believe in the direction this administration is taking the country,” he said.
In a related development, Mallam Aminu Suleiman, a member of the newly inaugurated North West Development Commission (NWDC), echoed Bagudu’s sentiments. Speaking after visiting the President to mark the Eid celebration, Suleiman urged Nigerians to remain patient and supportive of the Tinubu-led government.
He argued that Tinubu’s achievements in two years surpass those of the previous eight years under former President Muhammadu Buhari, also of the APC. “Given the full support of a four-year term, I am confident President Tinubu will transform Nigeria,” he asserted.
Suleiman also praised the administration’s commitment to inclusive development, especially the recent creation of the NWDC, which targets the needs of the North West region—home to nearly 19 million people.
“It is a significant step for the North West to be incorporated into the national development agenda. We have every reason to believe that with the President’s proven success in infrastructure, governance, and institution-building in Lagos, the same can be achieved across Nigeria,” he said.
He concluded by calling on Nigerians to trust the process and remain hopeful. “Let us be patient. A solid foundation is being laid, and in time, we will all witness the positive results,” Suleiman affirmed.
