
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has commended President Bola Tinubu’s economic policies, stating they have set the Nigerian economy on the path to recovery.
Speaking during the defence of his ministry’s financial estimates before the National Assembly Joint Committees on National Planning in Abuja, Bagudu emphasized that Tinubu’s administration was determined to sustain its current economic reforms.
“President Bola Tinubu has steered the economy in the right direction, and we are determined to stay the course,” Bagudu stated, adding that the administration’s Renewed Hope Agenda was addressing decades of underinvestment and fostering a positive economic trajectory.

Bagudu highlighted key achievements of the administration, including GDP growth exceeding 3% for three consecutive quarters, significant deficit reduction, and improved financial autonomy for sub-national governments. He noted that global business leaders and rating agencies had acknowledged the positive impacts of these reforms, such as the elimination of fuel subsidies and adjustments to foreign exchange policies.
“FAAC allocations to states and local governments are on the rise, and with these reforms, the increase will be sustained,” he assured.
The minister outlined plans to finance the 2025 budget through innovative funding and better allocation of resources. He revealed that President Tinubu had tasked the petroleum, solid minerals, and creative sectors with maximizing their revenue potential to support economic growth.
Bagudu concluded by reiterating the ministry’s commitment to implementing the Renewed Hope Agenda and Agenda 2050 strategies, emphasizing collaboration with the National Assembly to deliver on critical infrastructure and expand economic opportunities.