President Bola Tinubu and the Minister of Budget and Economic Planning, Sen. Atiku Bagudu during a courtesy visit in Lagos
By OLA MODUPE, Lagos-
Minister of Budget and Economic Planning, Sen. Atiku Bagudu, has declared that President Bola Tinubu led administration has positioned the nation’s economy for sustained recovery and growth.
“We’re not where we want to be, but these steps have turned the economy in the right direction,” Bagudu said after a courtesy call on President Tinubu in his Lagos residence.
According to Bagudu, the 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,” he stated.
The minister said this move has enabled subnational governments, states, and local governments to nearly triple the funds they had before.
He added that the additional funds are being channeled into critical sectors, including: Infrastructure development, agriculture, consumer credit, digital innovation, human capital development
*”These are not abstract promises. We are seeing real allocations going to security, education, and economic empowerment,” Bagudu added, highlighting the administration’s commitment to tangible progress.
The minister also noted a resurgence of investor confidence, stating, “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.“
Bagudu likened the administration’s efforts to laying a strong foundation, saying, “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 emphasized that the President’s administration is committed to making difficult decisions to ensure Nigeria’s economic stability and growth.
