As Nigeria marks two years under President Bola Tinubu’s
administration, Minister of Budget and Economic Planning, Senator Atiku Bagudu,
says the country’s economy is back on track.
This is as a member of the newly inaugurated North West
Development Commission (NWDC), Mallam Aminu Suleiman has called on Nigerians to
exercise patience with President Tinubu, describing his two years in office as
more impactful than the previous administration’s eight-year tenure.
Speaking Saturday night shortly after a courtesy call on
President Tinubu in his Lagos residence, Bagudu commended the administration’s
economic policies, stating that Nigeria is beginning to reap the fruits of
long-overdue structural changes.
“We’re not where we want to be,” Bagudu admitted, “but these
steps have turned the economy in the right direction.”
The minister emphasized 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,” 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 funds, Bagudu noted, are being channeled 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.
According to Bagudu, these 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 ” he said.
“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 early efforts to laying
a strong foundation. “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.”
Reflecting on the growing number of opposition politicians
joining the All Progressives Congress (APC), including governors from Delta and
Akwa Ibom States, Bagudu said it’s a reflection of faith in Tinubu’s
leadership.
“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”.
Speaking to journalists shortly after paying a Sallah homage
to the President at his Ikoyi residence in Lagos, 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,” Suleiman said. “Given the full privilege of a
four-year term, I am confident he will transform Nigeria.”
Suleiman also hailed the inclusion of the North West in
Tinubu’s development agenda, particularly through the establishment of the
NWDC.
“We are the largest population zone in the North, nearly 19
million people strong,” he said. “It’s a very good development for the North
West to be included, and I know, Insha Allah, we will ensure everything goes
well.”
He emphasized that with the President’s track record in
Lagos, especially in infrastructure, governance, and institution-building,
there is every reason to believe that similar transformation can be replicated
across Nigeria.
“He has done it in Lagos. We know, God willing, he will do
it for the entire country.”
Suleiman also urged Nigerians to trust in the leadership and
vision of President Tinubu. “Let us be patient. The foundation being laid is
solid. With time, we will all see the results.”
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