takes a critical look at the performance of the Minister of Budget and Economic Planning, Senator Atiku Bagudu, since assuming office in August, 2023.

At the beginning of the current administration, a few political juggernauts who played pivotal roles in the triumph of President Bola Tinubu at the polls in 2023 were already singled out by members of the public as likely cabinet members.

Top among them were; Senator David Umahi, a former Governor of Ebonyi State; Alhaji Abubakar Badaru, the immediate Governor of Jigawa State; Senator Atiku Bagudu, the immediate past Governor of Kebbi State; and, of course,Mr Dele Alake, a two-term commissioner in Lagos State.

As predicted by analysts, Tinubu appointed some of the suggested names, but the President caught the political forecasters unaware of the portfolio assigned to the ministerial nominees. For instance, Alake, who most assumed would be appointed Minister for Information, was named Minister of Solid Minerals. Similarly, Abubakar Bagudu was posted to the Ministry of Budget and Economic Planning.

Judging by his qualifications, Senator Bagudu, a 1983 graduate of Economics from Usmanu Danfodiyo University, Sokoto, who acquired his first Master’s Degree in Money and Banking from the University of Jos in 1989, was no doubt a round peg in a round hole. In 1992, he was a World Bank Scholar at Columbia University, New York’s pioneer Program in Economic Policy Management (PEPM). At Columbia, he obtained a second Master’s degree in International Affairs with specialization in Economic Policy Management.

Besides, his experience and giant strides as Governor of Kebbi State were also a pointer to what to expect from him as a minister.

In Kebbi, records show that Bagudu didn’t only manage the economy of the once-sleepy state, he reconciled it with the adequate sheer scale of development, which gave birth to a well-planned layout, a beautiful aesthetic network of tarred roads and other legacy projects in the cities and villages.

Again, looking back at his antecedents, it was easy to conclude that the Minister was on familiar ground, though, having served as a special assistant to the Minister of National Planning, Mr. Kalu Idika Kalu, under President Ibrahim Babangida’s military government.

His roles and mandates were well spelt out at his new duty post. First, he must determine and advise on policies that will best promote national unity and integration and sustain the Nigerian nation. He must ensure social justice and human welfare at all levels of Nigerian society and be expected to focus on key national development issues and suggest ways for their efficient resolution.

In particular, Senator Bagudu was expected to determine how best the fundamental objectives and directive principles of state policy contained in the constitution of the Federal Republic of Nigeria 1999 could achieve the significant goals of optimal development and suggest amendments that may be required from time to time to achieve those objectives in the light of encountered realities. Along with this, the new Minister was given the mandate to provide a national focal point for coordinating and formulating national policies and programmes by occasionally drawing up national economic priorities and programmes and mapping out implementation strategies. Under this, he was also expected to coordinate formulating and implementing government programmes in annual plans, budgets, and medium-term and prospective plans at Federal, State and Local Government levels.

Perhaps central to the aforementioned is the need to enhance the efficiency of public sector spending and general national economic management by continuously visualizing the international economic system in target horizons and identifying how best Nigeria can adapt to realizing the objectives and competing efficiently in the global system.

Sworn in on 21 August 2023, Bagudu saw his mission as coordinating the recovery of a dying economy that needed life-saving oxygen to survive and move on the path of the macroeconomic stability required for domestic and foreign investment inflow.

Less than two years after assuming office, it’s clear that Bagudu has lived up to expectations as the economy has seen significant improvements under his leadership at the helm of affairs of the budget Ministry. His legislative experience as a senator, representing Kebbi Central, 2009-2015, and executive experience as Governor came in handy as he quickly settled down to his primary task of planning the economy through systematic budgeting and coordination of consensus around issues of national concern.     

In budget function, Bagudu used his experience as a former federal legislator to successfully negotiate the 2023 Supplementary Budgets and the 2024 fiscal estimates and their amendments with the National Assembly. All were passed and assented to without the usual rancour that attended such exercises in the past.

Also, to his credit, under the leadership of his principal, President Tinubu, the 2024 budget was submitted to the National Assembly as and when due. The President assented to it on 1 January 2024 in line with the budget cycle of January-December.

The N28.77 trillion budget achieved its objective of reducing the fiscal deficit to support macroeconomic reform objectives of addressing low investments and low revenue issues, increasing capital expenditure, supporting the vulnerable populations affected by reforms, and increasing allocations to key sectors and innovative schemes.

The 2023 Supplementary Budget of N819 billion was re-negotiated to provide N500 billion for agricultural intervention, energy transition, presidential conditional grant to NANO businesses and MSME credit support.

Another N2.17 trillion 2023 Supplementary Budget focused on Security, Infrastructure (Roads and FCT), Agriculture, Wage awards to public servants, and cash transfer provisions were successfully negotiated.

The N6.2 trillion (2024 Amendment Act), which focuses on providing counterpart and equity contributions for Renewed Hope Infrastructure Projects, providing a minimum wage, and additional funding for water, irrigation, and dam development, as well as agriculture and food security initiatives, was also successfully negotiated with the National Assembly.

Regarding budget implementation and monitoring functions, the Minister has ensured that the federal government programmes and projects funded by the 2023 Capital Budget Appropriation were monitored against targets set in the National Development Plan. For instance, over 500 selected federal government projects implemented in 2023, Capital Appropriation, were monitored to ensure accountability and value for money. To give it a citizen-led approach, an application called Eyemark was developed to provide citizens with feedback on implemented projects. To his credit, the review and revision of the National Development Plan, 2021-2025, to accommodate the President’s eight priorities and Renewed Hope Agenda has been 95% completed.

Under the national policy coordination function, some effective measures have been implemented to enable the Ministry to achieve its targets. One, the National Poverty Reduction with Growth Strategy (NPRGS) has been implemented to address Multidimensional Poverty and job creation in Nigeria, which was coordinated with the relevant MDAs across 36 States and FCT.

In 2023, the FCT and 34 states were reimbursed with N438.3 billion. The programme has a $750 million credit portfolio.

Records have also shown that 67,038 jobs have been created in the first phase of the 2023 implementation. In a related development, the recommendations of the Multidimensional Poverty Index Report across 36 States and FCT were implemented to address the challenges of deprivation and access to social services.

Again, the Performance Report of Nigeria’s Economy in 2023 was published. It offered the opportunity to assess the performance of government policies and programs within the period under review.

Under Bagudu, the bottom-up approach to government interventions was implemented with the National Population Commission, the National Bureau of Statistics and the States from ward level to Local Government Areas. The Joint Planning Board and National Council Development Planning meetings were organized in 2023 to coordinate planning at the subnational level and build staff capacity for accelerated economic growth and development.

Meanwhile, a study on the impact of fuel subsidy removal on the Nigerian economy, which also advised the government on ways to cushion its negative effect on the citizens, was conducted and published. Pipeline bankable projects that could be implemented through PPP to address infrastructure deficit and attract foreign direct investment were selected. The Ministry successfully coordinated the implementation of the NG-CARES programme across the 36 states.

As a technocrat, Bagudu knows the place of innovation in budget planning and maximized it very well. In this regard, to foster efficient utilization of public resources and ensure that no citizen is left behind, the Federal Ministry of Budget and Economic Planning, under his watch, has been advocating for mainstreaming the use of geospatial evidence and insights from Geospatial analysis for the design and implementation of public programmes and projects in Nigeria. The key strategies employed by the Ministry to mainstream geospatial evidence and insights in the public sector include sensitizing governments at the subnational level and government agencies at the national level.

In collaboration with the ICRC, the Ministry successfully concessioned the Cassava bio-ethanol value chain in the six geographical zones. The ongoing pilot projects have created over 8,000 direct and indirect jobs. The project’s objectives are to boost cassava production, develop the value chain to address food insecurity and generate employment through entrepreneurship along the cassava value chain.

As of the time of filing this report, the revised National Social Protection Policy, coordinated by the Ministry, is said to be ready for launch. All 36 governors at the NEC meeting agreed that the President should launch the policy as a guide for managing the Social Protection program in Nigeria.

The Community of Practice of Stakeholder MDAs have also inaugurated the implementation of the National Social Protection Policy. Also, due to Bagudu’s innovative mindset, monthly inflation figures have been released promptly to guide policy decision-making. In addition, the release of quarterly GDP numbers and other indicators are consistent with the timeframe.

As a result of his achievement in office, the Initiative for Transparent Leadership (ITL) has commended Bagudu for his outstanding performance in promoting transparency, inclusivity, and sustainable development.

At a press conference, the CSO praised Bagudu’s efforts to ensure an equal spread of budgetary allocations across Nigeria’s six geopolitical zones. The group said that marks a significant departure from previous administrations where certain regions were favoured.

In his address, Executive Director Fabian Opialu said under Bagudu’s leadership, the budget follows an even spread, ensuring that all six geopolitical zones benefit from concrete projects that meet tangible realities on the ground.

This level of accountability, he said, is unprecedented and highlights Bagudu’s commitment to transparency in governance.