Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has expressed optimism about the country’s economic trajectory under President Bola Tinubu’s leadership. Speaking during the defence of his ministry’s financial estimates before the National Assembly Joint Committees on National Planning, Bagudu asserted that Tinubu’s economic policies are guiding the economy in the right direction.
Despite criticism over rising prices of goods and services, Bagudu insisted that the reforms are yielding positive results and positioning the economy for full recovery. He highlighted key achievements, including GDP growth of over 3% for three consecutive quarters, economic recovery, deficit reduction, and a decline in the use of ways and means.
The minister also outlined plans to intensify innovative financing for infrastructure projects, including housing, roads, and railways. Additionally, he emphasized efforts to boost crude oil production and generate additional revenue for the national treasury.
Bagudu urged legislators to pass tax reform bills, which would help the government achieve its 18% revenue-to-GDP target. He assured lawmakers of the administration’s commitment to inclusive growth and economic development.
The Co-chairmen of the Joint Committees on National Planning commended Bagudu for his detailed presentation and urged him to ensure the effective implementation of the capital component of the 2025 Budget.
