By Onyeanya Ebere Immaculata
Minister of Budget and Economic Planning, Abubakar Bagudu, has defended President Bola Tinubu’s economic reforms, saying the policies are strengthening public finances and improving funding to states and local governments.
Speaking on ARISE News on Wednesday, Bagudu dismissed claims that the reforms had failed, arguing that tough decisions were needed to reverse years of economic decline and weak fiscal management.
He said the reforms are already yielding results at the subnational level, noting that state and local governments, including those in the North, now receive higher allocations.
Bagudu also rejected suggestions that Nigeria’s fiscal framework is in crisis, saying revenue-expenditure gaps are common in democracies, citing the United States as an example.
While acknowledging ongoing hardship, he said institutions such as the World Bank and IMF have endorsed Nigeria’s macroeconomic direction, stressing the need for inclusive reforms.
The minister added that the administration is shifting focus to grassroots development, with a National Economic Council-approved plan to turn Nigeria’s 8,809 wards into centres of prosperity through coordinated efforts, especially in agriculture.
