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  • CSOs laud Bagudu’s mid term performance, budgetary priorities to uplift Nigeria

    CSOs laud Bagudu’s mid term performance, budgetary priorities to uplift Nigeria

    Civil society groups in Nigeria have commended Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu, for what they described as his outstanding leadership in driving the country’s economic agenda. 

    According to a detailed report coordinated by Independent Civil Society Groups in Nigeria, Bagudu’s stewardship has been instrumental in integrating President Bola Tinubu’s Renewed Hope Agenda into the national budget and planning processes.

    The report highlighted the administration’s strategic budgetary reforms, including a significant increase in capital expenditure to ₦23.4 trillion in the 2025 budget. 

    It noted that this marks a robust push towards infrastructural revitalization, with key initiatives such as the Lagos-Calabar Coastal Highway and the rehabilitation of the Port Harcourt-Maiduguri rail line. 

    Speaking at a briefing in Abuja, Dr. Emmanuel Agabi, President of Independent Civil Society Groups in Nigeria, said that “the 2025 budget reflects a commitment to prudent financial management and strategic allocation of resources.”

    The civil society groups also praised the administration’s efforts to enhance revenue generation, promote economic diversification, and invest in human capital development. 

    Agabi said initiatives such as the Nigeria Education Loan Fund (NELFUND) and the 3 Million Technical Talent (3MTT) Programme aim to improve access to education and foster innovation. 

    “These initiatives demonstrate a forward-looking governance style that seeks to dismantle systemic inefficiencies and unlock the country’s economic potential,” Agabi added.  

    “We commend Senator Bagudu for his visionary leadership and commitment to transparency in the budgetary process. 

    “His efforts have added credibility to the government’s planning process and reinforced public trust in the system.” 

    The report notes that despite challenges such as inflation and security concerns, the administration’s efforts to prioritize transparency, increase capital expenditure, and lay the groundwork for sustainable economic transformation are commendable.

    Agabi said the administration’s focus on infrastructure development is evident in the Renewed Hope Infrastructure Development Fund (RHIDF), which targets the mobilization of ₦20 trillion to finance critical projects across the country. 

    Additionally, the reports said that the government has established an Infrastructure Support Fund for states, enabling them to invest in critical areas that will create an enabling environment for businesses.

    To mitigate the impact of economic reforms on vulnerable populations, it said the administration has implemented various social welfare programs, including conditional cash transfers to 15 million households and grants to support small and medium-sized enterprises. 

    Read Also: Economy back on track, says Bagudu

    “These measures aim to promote social inclusion, reduce poverty, and support economic resilience among disadvantaged groups,” the report states.

    However, the report also notes that challenges persist, including high inflation driven by food prices and currency depreciation. 

    “The government should intensify efforts to stabilize the macroeconomic environment, enhance security, and implement targeted interventions to support food production and distribution,” Agabi said.

    The report underscores the administration’s commitment to driving economic growth and development through strategic budgetary reforms and investments in key sectors.

  • Fed Govt doesn’t want Nigerians to burden other countries, says Bagudu

    Fed Govt doesn’t want Nigerians to burden other countries, says Bagudu

    The Federal Government has said it is working out modalities to ensure that Nigerians, especially the youth, do not become a burden to other countries through illegal migration or economic desperation.

    A statement yesterday in Abuja by the Ministry of Budget and Economic Planning said the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, announced the government’s plan at the weekend during a high-level meeting with the Austrian Ambassador to Nigeria, Mr. Peter Guschelbauer.

    The meeting was also attended by the Minister of Humanitarian Affairs and Poverty Reduction, Prof. Nentawe Yilwatda; the Minister of Women Affairs, Ms. Imaan Sulaiman-Ibrahim, and the Director-General of the International Centre for Migration Policy Development, Mr. Michael Spindelegger.

    Bagudu said the Bola Ahmed Tinubu administration was repositioning the economy to empower more citizens to choose where they live rather than being compelled to leave their country due to harsh economic conditions.

    “Mr. President said we must confront our realities. This includes halting distortionary policies and generating more resources to provide the infrastructure that will stimulate inclusive growth and stabilise our economy,” Bagudu said.

    The minister assured fellow Nigerians that the reforms the current administration is implementing are geared towards stabilising the economy and opening up opportunities at home so that migration becomes a matter of free choice and not out of desperation.

    “We mean business. Therefore, we do not want our children to be a burden anywhere in the world. We want them to choose where they live freely,” he said.

    Read Also: Bagudu: Councils, Wards must become centres of development

    Bagudu stressed that Nigeria is open to partnerships with foreign governments and institutions to tackle illegal migration, which he described as a challenge that undermines legitimate global movement and cooperation.

    “We, more than anyone else, wish to halt illegal migration because it distorts legal migration,” he said.

    The minister explained that the government’s willingness to confront these challenges would not only reduce the pressure on foreign nations but also improve Nigeria’s image on the global stage and restore investor confidence.

    According to him, the ongoing economic reforms are among broader measures to create jobs, curb poverty, and build infrastructure that can attract domestic and foreign investment.

    Bagudu assured Nigerians that these efforts would produce a stable economic environment that would retain local talent and foster innovation within the country.

    The Federal Government’s position comes amid growing global concern over the rising rate of irregular migration from Africa, with many young people risking their lives through perilous journeys in search of better opportunities abroad.

    Nigeria, one of the continent’s most populous nations, has seen significant outflows of skilled and unskilled migrants in recent years, often referred to as the “Japa” syndrome — a term used locally to describe mass emigration.

    Bagudu said the government was committed to changing the narrative by improving conditions at home and engaging in strategic international cooperation.

    “This is not just a national concern but also an international responsibility. We are ready to work with willing partners like Austria and others to develop practical solutions,” he added.

  • Tinubu’s economic reforms fuel growth, renew investor confidence – Bagudu

    Tinubu’s economic reforms fuel growth, renew investor confidence – Bagudu

    Nigeria’s economy is on a promising rebound, thanks to bold reforms spearheaded by President Bola Ahmed Tinubu’s administration, according to minister of budget and economic planning, Atiku Bagudu.

    In a wide-ranging interview for an upcoming television documentary marking President Tinubu’s second year in office, Bagudu described the period as “two years well spent,” marked by growth, stability, and a growing wave of investor optimism, both at home and abroad.

    “Mr. President confronted Nigeria’s economic realities with bold and necessary choices—tough as they might be—and those measures are now yielding results,” the minister stated.

    In a statement issued on Wednesday by special adviser to the president on information and strategy, Bayo Onanuga, Bagudu cited four consecutive quarters of economic growth, stability in the foreign exchange market, and renewed private sector confidence as evidence of a reform agenda that is taking hold.

    “We have seen investors from Brazil, Belarus, and Saudi Arabia increasingly entering our agricultural space. The world economic community and multilateral institutions are putting more faith in our economy,” he said.

    According to the Minister, key to this turnaround has been the administration’s firm commitment to transparency, policy credibility, and structural reform, elements he described as essential for rebuilding trust in Nigeria’s economic direction.

    “For the first time in 25 years, Nigeria is refining oil,” he noted, highlighting President Tinubu’s decision to allow domestic crude oil sales in naira to local refiners as a bold step toward energy independence and economic nationalism.

    He also lauded the removal of the costly fuel subsidy regime and the unification of the foreign exchange market as landmark reforms that restored fiscal discipline and market confidence.

    “We were losing 5% of our GDP on fuel subsidy, money going to just a few. Mr. President took the courageous step to end it”, he said.

    The minister emphasised that the foreign exchange reforms had ended long-standing distortions and favouritism in the system.

    “We now have a fair market—willing buyer, willing seller—which has generated revenue growth and boosted private sector confidence,” he added.

    On the fiscal front, Bagudu said the 2024 and 2025 budgets reflect a deliberate balance between prudent spending and strategic investments in critical sectors such as health, education, infrastructure, security, and technology.

    “The 2024 budget achieved significant deficit reduction, and more importantly, it showed that we are serious—and the markets believed us,” he said.

    Bagudu credited the success of the reforms to the coordination and leadership of President Tinubu, who chairs both the Presidential Economic Coordination Council and the Economic Management Team.

    He praised the collaborative efforts of the economic team, particularly the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, in maintaining policy coherence and focus.

    “This is teamwork. The President is the chief coordinator. He understands the global economic context, and the private sector respects him,” Bagudu said.

    He also commended President Tinubu’s respect for legal and institutional frameworks, especially in managing inherited debts and Central Bank financing.

    “Mr. President inherited ₦22.7 trillion in Ways and Means financing, but he insisted on respecting the Central Bank’s independence. That discipline is earning us credibility globally,” Bagudu stated.

    While acknowledging that some of the reforms may be uncomfortable in the short term, Bagudu likened the economic process to a rigorous but beneficial fitness journey.

    Read Also: Bagudu: Councils, Wards must become centres of development

    “Our economy is like a body going to the gym. It might feel painful now, but the muscles of progress are forming,” he said.

    He concluded with a strong endorsement of President Tinubu’s leadership and vision, characterizing the reform drive not just as an economic necessity but a moral duty.

    “Mr President is saying, ‘I’m ready to take the pain so our children and grandchildren will inherit a more prosperous Nigeria.’ This isn’t just economic reform—it’s a moral responsibility.”

    The interview forms part of a larger documentary project highlighting the Tinubu administration’s achievements as it approaches the midpoint of its first term, with a focus on economic recovery, institutional reforms, and investor engagement.

  • Agriculture making significant strides under Tinubu, says Bagudu

    Agriculture making significant strides under Tinubu, says Bagudu

    The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has commended President Bola Tinubu’s agricultural policies, noting that the sector has made significant progress under his leadership.

    He spoke at the University of Ibadan Agricultural Economics Distinguished Personality Lecture, delivered by the Country Director, World Bank Nigeria Country Office, Dr Ndiame Diop, yesterday in Ibadan.

    Bagudu explained that agriculture’s 1.76 per cent growth in Q4 2024, accounting for a 25.59 per cent contribution to the 3.84 per cent GDP, indicated that Tinubu’s policies and programmes were maturing.

    “Agriculture’s 1.76% growth and 25.59% contribution remain vital, he told the audience, including academics, private sector leaders, and government officials, adding, “Q4 2024 GDP results confirm we are on the right path.”

    The minister attributed the sector’s appreciable success to the administration’s unwavering policies, which he said prioritised augmented budgetary funding and access to finance, stimulated technological innovation and mechanisation, improved climate resilience, developed infrastructure, fostered public-private partnerships, and reinforced security.

    Read Also: The Road to 2027

    Specifically, he pointed out that the sector benefited from increased budgetary allocations since the inception of President Tinubu’s administration, rising from N228.4 billion (1.05% of the 2023 budget) to N362.94 billion (1.32% of the 2024 budget) and finally to N826.5 billion (1.7% of the 2025 budget).

    Bagudu said the N100 billion National Agricultural Development Fund, which Tinubu established in 2023 to address financing challenges in agriculture, and the Central Bank of Nigeria’s donation of 2.15 million bags of fertiliser worth N100 billion to support farmers also enhanced the sector.

    He told his audience: “Let me emphasise that the agricultural milestones of the last 23 months of the Tinubu administration are far from where we want to be. However, they indicate our commitment to transforming the sector. The recent establishment of a separate ministry for livestock development signifies the administration’s forward-looking approach to expanding the sector’s frontiers and serves as a game changer for the economy.”

    The minister said that the Federal Ministry of Budget and Economic Planning, as the statutory mechanism for coordinating national consensus, will continue encouraging institutional and multi-stakeholder synergy.

    He explained that the ministry would ensure that state technical committees drive subnational-level policy coordination and monitoring, promote public-private partnerships, and mobilise resources through collaborations with agribusinesses, FAO, WFP, and others.

    Bagudu called for collective action among the government, academia, private sector, and development partners to turn challenges into opportunities.

    He added that through the aggressive implementation of the Renewed Hope Agenda and the National Development Plan, Nigeria would be transformed into an agricultural powerhouse that feeds its people, powers its economy, and competes globally.

    The distinguished lecturer Diop, in his lecture titled “Leveraging Agricultural Transformation for Sustainable Economic Development in Nigeria: Key Considerations,” stated that for the country to enhance its agricultural productivity, enablers such as education and human capital, connectivity and security, access to reliable power, access to finance, and cross-border trading must be established.

    According to him, while economic transformation cannot happen overnight, it can only occur with committed leaders and macroeconomic stability.

    He disclosed that Nigeria faces a significant demographic shift, with approximately 5.5 million Nigerians entering the labour force yearly. This rapid increase presents a unique opportunity for the country to become an essential economic driver of economic growth in Africa and globally.

    He added that Nigeria’s economy needs to grow faster and transform. The transformation, he said, must accelerate the movement of workers from low-productivity, low-paying, and often informal jobs to more productive and higher-paying positions.

    Several notable figures attended the event, including the representative of the Vice-Chancellor of the University of Ibadan, Prof. Oludayo Sonibare; the Director-General of the National Institute for Social Economics Research (NISER), Prof. Antonia Simbine; World Bank Consultant Prof. Funso Okunmadewa; and the Deputy Director-General of IITA, Dr. Kenton Dashiell.

  • Bagudu, ‘Renewed Hope’ and Agenda 2050: Setting Nigeria up for long-term prosperity

    Bagudu, ‘Renewed Hope’ and Agenda 2050: Setting Nigeria up for long-term prosperity

    • By Raheem Akintade

    Nigeria, like every nation committed to economic growth and the well-being of its people, continues to develop long-term economic transformation blueprints.

    The last was the failed Vision 20:2020, introduced in 2009, aimed at improving the living standards of the citizens and placing the country among the top 20 largest economies in the world.

    The vision had targeted a minimum GDP of $900 billion and a per capita income of not less than $4000 per annum. It also had other objectives, including achieving fiscal prudence, low inflation and increased availability of infrastructural facilities to propel the economy.

    In 2023, under the Buhari administration, Agenda 2050, a new economic transformation blueprint was presented by the Ministry of Finance, Budget and National Planning to State Governors and other members of NEC, including federal ministers, at a meeting presided over by the former Vice President Yemi Osinbajo, SAN.

    The plan, according to many, will succeed because of its execution period of 30 years, a view shared by Osibanjo after the presentation when he observed that the Agenda 2050 plan “captures a lot of the expectations for Nigeria in the future and hopefully implementation which is key if effectively done.”

    Ticking all the boxes of a road map for accelerated, sustained and broad-based growth, with frameworks for reducing unemployment, poverty, inequality, and human deprivation, Agenda 2050 is designed to transform the country into an “Upper-Middle Income Country” with a significant improvement in per capita income.

    Formulated against the backdrop of several subsisting development challenges in the country, it aims to address challenges which include low, fragile, and non-inclusive economic growth; high population growth rate; pervasive insecurity, limited diversification; macroeconomic and social instability; low productivity and high import dependence.

    Between Renewed Hope Agenda & Agenda 2050

    One aspect where the current administration of President Bola Ahmed Tinubu seems to be getting it right is having Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, in the driving seat of the budget Ministry marshalling the plan for Agenda 2050.

    The current administration has been able to harmonise its Renewed Hope Agenda, and 8 Priority Areas, which is a transformative policy thrust aimed at repositioning Nigeria as a prime global investment destination, with the aim of fast-tracking the goals of the Nigeria Agenda 2050 and the National Development Plan (NDP) 2021-2025, and the results have been impressive.

    Every key figure in the current administration has jumped on the campaign, aligning the country’s economic goals with the Renewed Hope Agenda, a win-win strategy that the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, in 2023, at a world press conference in Abuja ahead of the 29th Nigeria Economic Summit themed “Pathways to Sustainable Economic Transformation and Inclusion”, reinforced the government’s plan for the economy along five sub-themes; namely, Stimulating Economic Growth; Mobilizing Finance for Sustainable Development; Harnessing Human Capital Development; Promoting National Cohesion & Inclusion; and Reforming Public Institution.

    Putting into effect the essence of implementation, Bagudu expressed optimism during the first anniversary of the Bola Ahmed Tinubu administration, highlighting the importance of international cooperation rooted in Nigeria’s constitution, development plans and the Renewed Hope Agenda. He went ahead to assure the international community of Nigeria’s commitment to abolishing waste financing and remaining a reliable global partner, stating that the mandate of the Ministry of Budget and Economic Planning included bilateral relations for the national economy.

    He advised that challenges in the world cannot be solved in isolation.

    He praised the courageous reforms taken by the President in the past year, with the adoption of significant constraints in macroeconomic management to earn the trust of foreign investment, aimed at achieving a deficit close to the three per cent international standard.

    Bagudu: Unlocking Agenda 2050 through the private sector

    In a September 2024 report, Bagudu had clamoured for strong public-private sector partnership with a focus on the main target of the Nigeria Agenda 2050, which is to increase the country’s per capita GDP to US$6,000 and US$33,000 by 2030 and 2050 respectively.

    Harping on the pivotal role of the private sector in advancing the nation’s economic agenda, he stressed the importance of collaborative efforts between government and industry stakeholders in driving innovation and prosperity, explaining that successive governments will effectively implement the plan through six number 5-Year Medium-Term National Development Plans and Annual Budgets.

    In his usual sense of accountability and faith in the government’s economic plan, he stated that “Our Agenda 2050, which is our long-term perspective plan, was developed in 2020 and was chaired by both the private sector and public sector under the Minister of Finance, and with the sub-nationals, projected that for us to achieve a GDP per capita of 33,000 by the year 2050, we must be investing no less than $100 billion per annum, with about 85 per cent of it from the private sector.”

    All things being equal, Agenda 2050 will help Nigeria attain her desire to successfully join the upper-middle-income countries group and subsequently join the high-income group.

    Read Also: Bagudu, Aliyu: why tax reform is transformative

    Significant improvement is required in the country’s per capita GDP, which will be powered by rapid and sustained economic growth.

    A view that Bagudu maintained is possible, and believes that through strategic partnerships and targeted investments, the Federal Government aims to unleash the full potential of the nation’s economy and thus create an enabling environment for businesses to thrive.

    In conclusion, the Federal Government has demonstrated unwavering commitment to economic growth with the President and every member of his cabinet aligned.

    Nigeria’s long-term ambition, improving its per capita GDP from about US$2,084.05 in 2020 to US$6,223.23 in 2030 and US$33,328.02 in 2050, with rapid and sustained economic growth, job creation and poverty reduction, looks achievable. The future is filled with promise, and no stones would be left unturned, as expressed by Bagudu, “We have put the policies in place, for us to pitch all the rating agencies and say you have done well, you are doing the right thing.

    So, we now have to be deliberate in meeting those investors, that hoarding capital and Mr President has been personally leading investment drives, meeting with sovereign wealth funds, private equity firms, and institutional investors.”

  • Bagudu canvasses synergy for sustainable development

    Bagudu canvasses synergy for sustainable development

    Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has called for collaboration among all arms of and agencies to achieve the sustainable financial management required for national development.

    The minister spoke on Thursday in Abuja during a high-level interactive session on sustainable financial management and national development attended by members of the National Assembly and heads of government ministries, departments and agencies.

    He said that without collaboration, opportunities for shared knowledge to improve the delivery of government policies and programmes might be lost.

    “Moments like this provide opportunities for exchange of ideas and knowledge,” he said, explaining that although the three arms of government are independent, the 1999 Constitution bounds them to cooperate for the betterment of the people.

    Read Also: Give it to the EFCC

    He said: “Chapter 2 of the Constitution, which defines our fundamental objectives and directive principles of state policies, commands all those in authority whether executive, legislative, or judicial to observe, conform, and seek the achievement of those stated objectives. So if we are looking for a command that unifies all those in power, that is it.” Besides the constitutional basis for cooperation, Bagudu pointed out that sustainable financial management for growth in a changing world with changing instruments and a rising population was impossible unless there was knowledge-sharing among public officers responsible for policy implementation.

    He commended the collaboration between the National Assembly and the executive, explaining that it was in line with President Bola Tinubu’s charge to his ministers that they must always cooperate with the federal legislature.

  • Renewed Hope Ambassadors laud Kebbi Governor, Bagudu over solidarity rally for Tinubu 

    Renewed Hope Ambassadors laud Kebbi Governor, Bagudu over solidarity rally for Tinubu 

    …say massive turnout indication Nigeria, Kebbi working for the masses

    One of Nigeria’s leading political groups, the Renewed Hope Ambassadors Network (RHAN), has credited the massive turnout at the recent political rally in Kebbi State to the achievements of President Bola Ahmed Tinubu and the goodwill of the state’s leaders.

    RHAN, which played a key role in mobilizing support for Tinubu during the 2023 presidential election, specifically praised the Minister of Budget and Economic Planning, Senator Atiku Abubakar Bagudu, and Governor Nasir Idris as pivotal figures steering the state’s political landscape.

    It will be recalled that the All Progressives Congress (APC) in Kebbi State officially launched its campaign on Wednesday for the re-election of President Tinubu and Governor Idris ahead of the 2027 elections.

    The mega rally, tagged, “We Stand with Tinubu and Kauran Gwandu,” took place at the township stadium in Birnin Kebbi, drawing prominent political figures, including Minister Bagudu; Governor Idris; Hon. James Faleke; Minister of State for Education, Yusuf Tanko Sununu; and several others. 

    Senator Bagudu, while speaking at the event, said both Tinubu and Governor Idris deserved a second term based on their performances in less than two years in office. 

    Read Also: I will no longer look for trouble – Portable 

    Reacting through a press statement on Friday, The Renewed Hope Ambassador Network, said the report received from the Kebbi chapter of the Network, shows “APC is the party to beat, any day, anytime”.

    “We have said this repeatedly that, any Governor who performs well in the office, will make campaigns easier for his return or the return of his party.

    “The foundation for the overwhelming support given to APC in Kebbi State was laid by His Excellency, Atiku Bagudu while he was the Governor. His good works and legacies are still there to speak for him.

    “While he was leaving, he also blessed the state with a performing Governor, in the person of His Excellency, Nasir Idris. The Governor and his predecessors have enjoyed the support of the people, and by extension, our party is widely accepted today because of them.

    “The state is known for peace, unity and progress, because the leaders are also at peace with each other. We have heard and seen states where cold wars exist between the Governors and their predecessors, in such states, development is too far from them and the fate of the party is dangling on the balance, as we move towards another election circle”, said Hon. Ahmed Yahaya, Spokesman of the Network.

    Yahaya added that, through the Honourable Minister who is in charge of the budgetary allocations of the federation, the government of President Tinubu was able to allocate multi billion naira projects to the state, in both the 2024 and 2025 fiscal years, saying, by the time the government would be 4 years, the state would have been transformed.

    He said, “In less than two years, President Tinubu, through the effort of the Minister, has initiated several people-oriented projects in Kebbi State.

    “Some of the key federal projects in the state, like the Natsini-Kangiwa-Kamba Road, awarded at N35 billion, the Malamfari-Ngaski-Warah Road, and ongoing work on the Sokoto-Kebbi-Badagry Superhighway and the Koko-Mahuta-Dabai Road, are pointers to the many laudable achievements of this administration.

    “Also, the rehabilitation and construction of 30 km within the 127 km alignment of Biu-Kangiwa-Kamba-Gaya-Niger Republic Road, awarded at N39.6 billion; the construction of Malando Garin Baka Ngaski Wara Road CH.0+000 CH.79+586 at N86.3 billion; Koko-Besse-Zaria-Kala Road at N13.7 billion; and the 1,000 km Sokoto (Ilela – Badagry (Agbara) Superhighway (Section 1, Phase 1A) Kebbi section worth N428.3 bilion; are all glaring and signs that this government means well for the people of the State”.

    The group further stressed that, with projects worth over 600 billions in just 2 years, the people of the state would have no option but to pray continually for the President Tinubu and Governor Idris government to succeed.

  • Tinubu fair to all regions, says Bagudu

    Tinubu fair to all regions, says Bagudu

    • Kebbi APC okays second-term for president, Governor Idris

    President Bola Ahmed Tinubu has been fair to all parts of the country in the delivery of democracy dividends, Minister of Budget and Economic Planning Atiku Bagudu has said.

    According to him, Kebbi State has received a huge chunk of over 40 ongoing projects worth over N600 billion spread across agriculture, health and education sectors.

    He spoke during a rally yesterday at the Haliru Abdu Multipurpose Stadium in Birni Kebbi.

    He said because of the great benefit Kebbi State has received in less than two years of the Tinubu Administration, the President deserved the support of Kebbi indigenes for his second term.

    He added that with the sterling performance of Governor Nasir Idris, his second term is assured.

    Badugu said:  “President Bola Tinubu has shown that he is a visionary leader with enormous capacity to carry everyone along. He promised to be president for all, and he has practicalised that in all his dealings in the last one-and-a-half years that he has been in office.

    “For us in Kebbi State, we are grateful for his impactful leadership that is consolidating inclusive economic growth and development across our land and the nation.

     “Federal government awarded Natisini – Kangiwa – Kamba Road for N35 billion, it did the Malamdo – Ngaski Warah Road, has started work on the Sokoto – Kebbi – Badagry superhighway and Koko-Mahuta – Dabai Road respectively all for the benefit of people of Kebbi State.”

    Addressing the rally, Governor Idris said the people of Kebbi State were solidly behind President Tinubu because he has brought progress and development to the state. He commended him for the developmental projects the President had brought to the state.

    “We can count many things that the President has done for our state. For this, I’m with Tinubu come 2027. When the time comes, we shall see if they think they have the same number of people as Tinubu in Kebbi State.

    ‘’Only the person who brought progress to us is our candidate,” the governor said.

    Speaker of the state  House of Assembly,   Muhammadu Ankwe, praised Tinubu for his contributions to the infrastructure development of the state. He said people needed to reciprocate his good deeds with their support.

    Read Also: Tinubu appoints Ismaila as NCAT Rector

    “Hon (James) Faleke, please tell the President that we are solidly behind him,” he said.

    Faleke, who is chairman of the  House of Representatives Committee on Finance, represented the President at the rally. 

     The event was attended by a huge crowd and scores of political heavyweights, such as National Assembly members, former governors, and some members of the party’s National Working Committee.

    They are: APC National Organising Secretary, Mr Suleiman Argungu; Deputy National Publicity Secretary,   Durosimi Meseko; Executive Secretary, National Lottery Commission,  Tosin Adeyanju; Senator Bala ibn Na’alla; Senator Mohammed Magoro and former governor of the state, Sai’du Dakingari.

    Bagudu announced the donation of N450 million to the 225 wards in the state to procure food items for the month of Ramadan.

     According to him, the money was contributions by his associates and the governor to help the needy.

    He urged people to support the APC government led by Idris in the state and Tinubu at the federal levels because of their good work.

    Faleke thanked the gathering for their support for Tinubu and pledged that the President would continue to serve them diligently.

    “I thank you for this show of support. I urge you to continue to stand firmly, and I assure you that Tinubu will not disappoint you,” he told the cheering crowd.

  • Bagudu praises collaboration between fiscal and monetary policy authorities

    Bagudu praises collaboration between fiscal and monetary policy authorities

    The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has commended the cooperation between the fiscal and monetary policy authorities, saying it is in the best interest of the country’s economy.

    “In the last 18 months, we have seen increased collaboration between fiscal and monetary authorities, and something maybe least appreciated is that we have a President who himself is very knowledgeable on the trade-offs involved between fiscal and monetary policy and the Renewed Hope Agenda in a way is a balancing act,” he told the Central Bank of Nigeria’s Monetary Policy Forum in Abuja.

    He said the collaboration has been aided by the wealth of experience of its drivers – the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the CBN Governor, Mr Olayemi Cardoso, who had worked with President Bola Tinubu in the past.

    The minister acknowledged the possible divergence between fiscal and monetary policy but expressed satisfaction with how the two authorities have moderated their priorities.

    Read Also: Bagudu: Tinubu steering economy in right direction, determined to stay course

     “The central bank and the fiscal authorities are clear in their priorities and objectives, and no doubt disagree. But that’s how it should be. It should be healthy because when the expenditure-to-GDP ratio is lower than it should be, our first significant objective is to increase revenue-to-GDP  and grow the revenue to GDP ratio. We also have to deal with balancing inflation and driving economic growth, especially in an inclusive manner, as contained in the Renewed Hope Agenda.

     “Where we think opportunities still lie, is that the elasticity of our productivity is still strong, meaning we can drive productivity growth rapidly.”

    He said that while the fiscal authority believed it should spend more on domestic production because the country had strong absorptive capacity in agriculture and solid minerals, it appreciated the central bank’s position that it would not intervene directly.

    However, Bagudu pointed out that it was essential to invest more in agriculture, mainly because of the incremental security gains, which had enhanced production in challenged farming areas in the Northwest and Northeast.

    He said the enhanced agricultural production was helping to bring down food prices across the country.

    The minister said: “Borno State recorded one of the highest harvests comparable to the pre-Briboko-Haram era. Kaduna State is improving, and many other states are improving. So, how do we ensure that we don’t miss that opportunity? Yes, we might have been disappointed with some of the interventions in the past, but maybe we have gained knowledge to calibrate and ensure that we do better in a way that will support further growth in domestic production because the transmission mechanism between domestic output and productivity gains, and inflation effort is very, very strong.”

    He emphasised that the administration’s economic reforms were working and had set the economy on the right path of inclusive growth and development, as acknowledged by global business leaders and rating agencies.

    Bagudu stated, “Mr Governor, we were in Saudi Arabia with your deputy on Christmas Eve. As Nigerians, we have every reason to congratulate ourselves. We met with three ministers who acknowledged that we are undertaking reforms even bolder than theirs because they recognise they are a monarchy.

     “So, they withdrew petroleum and electricity, subsidies at 15%, including on food, to turn their economy in the right direction. But they acknowledge that we have done more in the last 18 months. And given that we are facing an election, they reckon our challenge was even more than theirs.”

  • Economy on right track, says Bagudu

    Economy on right track, says Bagudu

    • Sani: reforms will reset Nigeria

    Minister of Budget and Economic Planning, Senator Abubakar Bagudu yesterday said President Bola Tinubu is steering the economy in the right direction.

    He said the government was determined to stay the course on its economic reforms.

    Bagudu made this assertion during the defence of his ministry’s 2025 budget estimates before the National Assembly Joint Committee on National Planning, chaired by Senator Yahaya Abdullahi and co-chaired by Isiaka Ibrahim, in Abuja.

    He said Tinubu’s economic reforms were working and that the economy was on the path to full recovery.

    Bagudu said: “President Bola Tinubu has steered the economy in the right direction, and we are determined to stay the course.

    “Under the leadership of President Tinubu, and with your support, our economy has turned the bend and facing the right direction.

    “The Renewed Hope Agenda Strategy of once and for all confronting our decades of underinvestment is working, and the positive trajectory is being sustained.”

    According to him,  the Gross Domestic Product (GDP) growth of more than three per cent for three successive quarters, compared to less than one per cent in industrialised countries, evidenced the increasingly positive impact of the administration’s reforms.

    Bagudu listed other positive impacts, including recovery of the economy, deficit reduction, and non-recourse to ways and means beyond legal limits from over 6.1 per cent in 2023 to less than four per cent in 2024, which he said global business leaders and rating agencies had acknowledged.

    “The reform strategy has enhanced the liquidity of the sub-nationals: States and Local Governments.  Federation Account Allocation Committee (FAAC) allocations to all tiers of government are on the increase.

    “With the elimination of forex and fuel subsidies, among other reforms, the increase shall be sustained,” he said.

    The Minister told the legislators that the Tinubu administration would generate the funds to finance the 2025 financial projections through innovative financing and line budget allocation.

    Read Also: Tinubu’s economic reforms steering Nigeria towards recovery, says Bagudu 

    He explained that the president had charged the petroleum, solid mineral and creative industry sectors with developing their potential.

    Bagudu stressed that with the help of the National Assembly, his ministry, which he said was the chief marketer of Tinubu’s Renewed Hope Agenda and Agenda 2050 strategies, would implement innovative financing measures to expand economic activities and generate substantial revenue to fund ongoing critical infrastructure.

    “As the chief marketer of the Renewed Hope Agenda and Agenda 2050 strategies, the Federal Ministry of Budget and Economic Planning is poised to intensify its innovative financing to take forward the delivery of the Renewed Hope infrastructure, including housing, roads and railway. “We shall more aggressively raise funding for our creative and high-impact programmes, including Renewed Hope Infrastructure Fund, Consumer Credit, National Agriculture Development Fund, Mortgage Fund, CNG Energy transition, Student Loans Fund, and support to nano and MSMEs,” he said.

    He noted that in addition to the funds that would accrue from maintaining fuel and removing forex subsidies, the administration was determined to increase crude oil production beyond the estimated 2.06 barrels per day at a lower cost.

    The minister said that as the Crude Oil Theft Committee ramps up its activities to contain crude theft, more funds will flow into the national treasury.

    “Our ministry and agencies are leading many engagements to get more resources to finance critical infrastructure in your constituencies,” Bagudu told the legislators, explaining that there would be more spending with more revenues.

    He urged legislators to pass the tax reform bills, saying their passage would smoothen the government’s path to achieving its 18 per cent revenue-to-GDP target.

    He assured them that the Tinubu administration remained focused on achieving a higher growth rate that would include all this year.

    Bagudu also spoke about the ministry’s bilateral and multilateral coordination mandate and said the economic reforms earned the appreciation and respect of the nation’s development partners.

    He said many countries, including China, had comprehensively scaled up their relations and partnerships with Nigeria.

    He emphasised that the ministry signed many high-impact agreements on behalf of the country last year, including five with China and six with the United Kingdom, the European Union, Japan, the United Arab Emirates, and Saudi Arabia.

    He recalled that the German President, Dr. Frank-Walter Steinmeier and the Indian Prime Minister, Mr. Narendra Modi, visited Nigeria.

    At the same time, President Tinubu visited several countries in the preceding year to project the stabilising effect of the economic reforms on the nation’s economy.

    “Our country has done well. President Tinubu is leading the country in the best of ways. He has charged all of us, his ministers, to work for excellence and do everything we can to ensure that the nation generates a higher level of growth that will include all. We will,” Bagudu stated.

    Kaduna State Governor Uba Sani and Minister of Solid Minerals Dr. Dele Alake also affirmed President Tinubu’s vision, knowledge and courage to reset Nigeria’s economy through various reforms and policies for the betterment of the citizenry.

    The duo spoke yesterday at a one-day lecture in Kaduna, organised by Arewa Think Tank (ATT) on the theme; “Agricultural Perspective of Nigeria in the last 64 Years of Independence”.

    According to the Minister, “When Tinubu became the governor of Lagos State in 1999, he introduced civil servants biometric register, but there were uproars because there were loopholes that some people were benefiting from.

    “It is the same thing he is doing for Nigeria’s economy today, blocking the leakages, plugging the loopholes. And those who are benefiting from these loopholes are not going to fold their arms, they are going to resist.

    “We are witnessing the resistance all over the country. But you need a man of courage to stay firm for justice. Because of Tinubu’s steadfastness, consistency and resilience, he waded through all those obstacles and resistance and turned around the economy of Lagos.

    “Today, Lagos has the sixth largest economy in the whole of Africa. It is not by accident. It is by calculated and meticulous execution of those policies. Today, Lagos economy is one of the largest economies among 20 African countries.

    “This is where Tinubu is taking Nigeria. We need to support Tinubu whom God has given the vision, knowledge and courage to take the country out of the quagmire we found ourselves in the last several decades.”

    On his part, governor Sani acknowledged that the implementation of the president’s bold policies have not been without challenges and pains for Nigerians, but clarified that the pains are temporary.

    He said with just a little more patience and perseverance ‘”we shall start reaping the fruits of the reforms. ‘’

    “In fact, we are already turning the corner. The economy is fast improving. Very soon the positive impact of the reforms would be felt by Nigerians. What the President needs at this critical time is the support of our people,’’ he added.

    “The Renewed Hope Agenda is President Tinubu’s visionary and transformative policy thrust, aimed at repositioning Nigeria as a global investment hub.

    “The Agenda, which is anchored on the core pillars of democracy, development and diaspora engagement, is being vigorously pursued with courage and patriotic zeal,’’ he further said.

    Governor Sani recalled that “at independence, agriculture was the mainstay of the Nigerian economy, with the three regions effectively utilizing resources from agriculture to build critical infrastructure and develop human capital.

    He, however, lamented that due to the discovery of oil, agriculture was abandoned. “We are the poorer for it. We must return to agriculture and invest heavily in it. It holds the key to addressing the challenges of poverty, unemployment and insecurity,” Sani said.

    The governor, however, maintained that “President Tinubu is already showing us the way. His administration has prioritised agriculture and is investing heavily in mechanization and empowerment of smallholder farmers.”

    According to Sani, Tinubu’s investment in agriculture is unequalled in the history of administrations in Nigeria.

    “Mr. President has equally been giving sustained assistance to sub-nationals in respect of funds and agricultural inputs. Mr. President recently made history by creating the Ministry of Livestock Development which holds the potential of making Nigeria the leading producer of livestock in Africa,’’ he added.