According to Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, Nigeria’s ongoing economic reforms are now producing tangible outcomes, pushing past initial skepticism surrounding their viability.
Bagudu spoke at Nigeria’s news conference on Saturday in Bangkok, Thailand, during the 2026 World Bank/IMF Annual Meetings.
He commended President Bola Tinubu for the political will to implement the reforms, expressing confidence that sustained efforts would deliver higher economic growth.
The minister said stronger coordination between fiscal and monetary policies would be critical to consolidating the gains and achieving the country’s economic objectives.
He said experiences from previous years had provided valuable lessons for addressing Nigeria’s economic challenges and improving the implementation of government policies.
According to him, closer collaboration among government institutions would strengthen efforts to achieve the economic targets set by Tinubu for 2030.
Bagudu also expressed optimism about Nigeria’s international standing, citing growing confidence in the country’s governance, transparency and economic management.
He commended the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and other officials for their contributions to the reform process.
Bagudu described Tinubu as a visionary leader whose decisions demonstrated courage and commitment to national development.
He said implementing the reforms required political will, adding that the administration remained determined to sustain the progress recorded.
The minister urged government officials and other stakeholders to maintain cooperation, stressing the need to consolidate existing gains and achieve Nigeria’s economic growth objectives. (NAN)
What You Should Know
Speaking at the World Bank/IMF Annual Meetings in Thailand, Budget and Economic Planning Minister Senator Abubakar Bagudu expressed strong optimism regarding Nigeria’s current economic trajectory, noting that critical reforms initiated by President Bola Tinubu are starting to pay off.
- Positive Impact: Enhanced fiscal and monetary coordination could stabilize the economy, attract more international investors, and put the country on a steady path toward long-term growth targets by 2030.
- Potential Concerns: Despite government optimism, ordinary citizens continue to grapple with high living costs, meaning that these high-level policy gains must translate into real relief at the grassroots level to be genuinely felt by the public.
