The Minister of Budget and Economic Planning, Atiku Bagudu, has assured Nigerians that the economic reforms introduced by President Bola Tinubu will eventually translate into improved living conditions and prosperity, particularly for hardworking citizens and vulnerable groups
Bagudu, who chairs the All Progressives Congress (APC) 2027 Manifesto Unveiling Committee, said the administration had made progress in implementing its economic policies but acknowledged that more needed to be done to ensure ordinary Nigerians experienced the benefits.
He spoke on Tuesday in Abuja at the unveiling of the APC’s 2027 manifesto, tagged From Reforms to Prosperity.
The minister said Tinubu was aware of the economic difficulties facing citizens and remained committed to ensuring that government policies improved their livelihoods.
Bagudu cited the response of private sector participants at the last Nigerian Economic Summit, saying business leaders had acknowledged progress in delivering on the President’s promises and were announcing investments in the country.
“All of us, the ministers, alongside the Vice President, have reason to be proud of the last Nigerian Economic Summit. This is because the private sector unanimously acknowledged that Mr President had delivered on the promises he made. They are doing well, announcing investments in Nigeria commensurate with what he promised and what he has delivered,” he said.
However, he stressed that the administration could not consider its work complete until the benefits of economic growth reached Nigerians, especially those facing hardship.
“But, as we all know, even before anybody tells him, Mr President acknowledges that we have done well. However, until we deliver and ensure that every Nigerian feels the impact of prosperity, especially hardworking Nigerians and those who need support, we still have work to do,” Bagudu added.
The minister also recounted an incident during Tinubu’s campaign in Zamfara State, when the President reportedly directed a State House official to give money to a struggling carrot seller whose business had suffered poor sales.
Bagudu described the gesture as an indication of Tinubu’s concern for ordinary Nigerians and his determination to improve their welfare.
He said the APC’s 2027 manifesto was not merely the product of the committee but belonged to party members and Nigerians who supported the President’s vision.
According to him, the document would retain some existing policy initiatives while setting out a broader vision for the country’s development.
Bagudu also cited Tinubu’s ambition to grow Nigeria into a major economy, recalling the President’s comparison with Brazil, which he said had become a $2tn economy.
The minister said Tinubu had urged his team to confront Nigeria’s economic realities and address its challenges, rather than focus solely on the next election.
He further expressed confidence in the administration’s economic strategy, citing what he described as sustained economic growth, declining inflation and signs of improvement in the exchange rate.
Bagudu maintained that the President had acknowledged the need for further action, despite the initiatives already introduced across different sectors.
Tinubu announced the removal of the petrol subsidy on May 29, 2023, shortly after taking office, and subsequently introduced reforms to unify the naira exchange rate.
The measures have had significant effects on the Nigerian economy and household spending, attracting mixed reactions.
While supporters of the reforms argue that they are necessary to establish a stronger foundation for long-term economic growth, critics have pointed to the increased cost of living and pressure on households.
Opposition figures have continued to criticise the administration’s economic policies, while the Presidency and government officials maintain that the reforms are producing results.
Bagudu’s remarks at the manifesto unveiling come as the APC prepares to present its policy priorities ahead of the 2027 general election, with the government facing pressure to demonstrate how its economic programme will translate into tangible improvements in citizens’ lives.
