Nigeria’s Economy Growing Despite Short-Term Pain – Bagudu
Senator Atiku Bagudu and Aminu Suleiman expressed optimism regarding Nigeria’s economic recovery under President Bola Tinubu during a recent visit. They highlighted significant reforms including subsidy cuts, which they believe will lead to sustainable growth. As confidence among investors rises and opposition members join APC, they urged the public to remain patient as progress unfolds over time.
In a recent address, Senator Atiku Bagudu, Nigeria’s Minister of Budget and Economic Planning, underscored a positive outlook for the country’s economy, attributing it to the bold reforms introduced by President Bola Tinubu over the past two years. While acknowledging that Nigerians are experiencing short-term difficulties, he expressed confidence in a rebound, arguing that these reforms are paveing the way for sustainable growth.
Bagudu’s comments came after a visit to Tinubu at his Lagos residence, where both he and Aminu Suleiman, a member of the newly established North West Development Commission, urged the public to maintain faith in the administration. Suleiman suggested that Tinubu’s two years in office have been marked by more effective governance than the previous administration’s entire eight-year span.
He stated, “We’re not where we want to be but these steps have turned the economy in the right direction.” The Minister pointed out that the Tinubu administration’s moves to eliminate expensive fuel, foreign exchange, and electricity subsidies have been crucial. “Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult,” he remarked.
By cutting these subsidies, resources have been released to states, with some noting nearly tripled funding since the reforms took shape. Bagudu stressed that these funds are being directed to essential areas such as infrastructure, agriculture, and education, promising tangible improvements rather than mere plans.
He highlighted the growing investor confidence emerging from these changes: “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.” He noted a visible resurgence in private capital influx, with investors increasingly recognizing the government’s commitment to necessary reforms.
Reflecting on political shifts, Bagudu touched on the increase in opposition politicians, including governors from Delta and Akwa Ibom, joining the All Progressives Congress (APC). He pointed to this as evidence of faith in Tinubu’s leadership, stating, “They’ve stated publicly why they joined, because of the sincerity and direction of this leadership.”
Suleiman echoed Bagudu’s sentiments after paying homage to the President during Eid celebrations. He referred to Tinubu’s leadership as transformative, asserting, “Tinubu’s two years is even better than the past government’s eight years.” With faith in the current government, he expressed optimism that the structure being established will yield significant progress throughout Nigeria.
Furthermore, Suleiman commended Tinubu’s focus on the North West through the NWDC’s establishment, stating the importance of including the region in national development plans, especially given its population density. He concluded with a plea for patience, underscoring the belief that Nigerians would eventually see the benefits of the administration’s foundational work, saying, “Let us be patient. The foundation being laid is solid. With time, we will all see the results.”
The remarks from Senator Atiku Bagudu and Aminu Suleiman indicate a strong belief in the potential recovery of Nigeria’s economy under President Bola Tinubu’s reforms. With initiatives underway to bolster critical infrastructure and investment, they affirm that tangible benefits are on the horizon despite the current challenges. Furthermore, the increasing political unity across state lines suggests a growing confidence in Tinubu’s leadership, prompting calls for patience as the country navigates these transformative changes.
Original Source: punchng.com
