Nigerian Economy Bouncing Back from Tinubu’s Reforms, Says Bagudu
The Minister of Budget and Economic Planning, Senator Atiku Bagudu, has announced that the Nigerian economy is beginning to yield positive results from the bold economic reforms implemented by the Bola Tinubu administration.
Speaking in Lagos on Saturday night, Bagudu stated that increased investor confidence and rising capital inflows are indicative of a turnaround for the country’s economy.
According to Bagudu, the removal of longstanding fuel, foreign exchange, and electricity subsidies has been pivotal in freeing up fiscal space and redirecting resources to critical sectors of the economy. “Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult,” he said. “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.”
The Minister noted that the additional funds are being deployed to infrastructure, agriculture, consumer credit schemes, human capital development, and digital innovation, with visible impacts already seen in budgetary allocations to education, security, and economic empowerment.
“These are not abstract promises. We are seeing real allocations that are making a difference,” he stressed.
Bagudu also praised the administration for laying a solid foundation for long-term growth, likening it to reinforcing a structure from beneath.
“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 to blame the past, but because critical decisions were delayed for too long,” he said.
The Minister’s comments come as Nigeria marks both Eid-el-Kabir and the second anniversary of the Tinubu administration.
Bagudu urged Nigerians to reflect on the journey so far and remain hopeful about the future.
“The administration’s reforms are working. Investments are rising. Yes, there are challenges, but we’re now doing the hard things needed to ensure a better tomorrow,” he stated.
In a related development, the growing number of opposition politicians defecting to the All Progressives Congress (APC) has been cited as a testament to Tinubu’s leadership and the credibility of his economic direction.
“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,” Bagudu said.
As the country looks to the future, the Minister’s comments suggest that the Nigerian economy is on the path to recovery, with the administration’s reforms beginning to bear fruit.
With increased investor confidence and rising capital inflows, the stage is set for a period of sustained growth and development in the years to come.
