As Nigeria commemorates the second anniversary of President Bola Ahmed Tinubu’s administration, Minister of Budget and Economic Planning, Senator Atiku Bagudu, has affirmed that the nation's economy is on a positive trajectory towards recovery, despite ongoing challenges. Speaking on Saturday night after a courtesy visit to President Tinubu at his Lagos residence, Bagudu highlighted that the bold structural reforms initiated by the administration are beginning to show tangible results, particularly in boosting investor confidence and creating fiscal space for development.

While acknowledging that Nigeria is “not where we want to be,” Senator Bagudu asserted that the decisive economic policies implemented have successfully “turned the economy in the right direction.” A cornerstone of these reforms, he emphasized, was the administration’s decision to end long-standing and costly subsidies on fuel, foreign exchange, and electricity. Bagudu explained, “Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult.”

The removal of these subsidies has been pivotal in freeing up substantial resources. “By cutting these subsidies, we freed up resources,” Bagudu stated. “Today, subnational governments, states and local governments, have nearly tripled the funds they had before. That’s transformative.” This significant increase in revenue, described as a “game changer,” is now being strategically channeled into critical sectors to foster growth and improve citizens' lives.

The recovered funds are being directed towards infrastructure development, agriculture, consumer credit, digital innovation, education, security, and human capital development. “These are tangible investments. We are seeing real allocations—not promises—being channeled to areas that will drive growth and improve lives,” Bagudu added, emphasizing the concrete nature of these efforts towards economic empowerment.

According to Minister Bagudu, these reforms are already inspiring a resurgence of investor confidence, both domestically and internationally. “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. That is a Herculean task and that is central to reforms,” he said. “There is a visible return of private capital, both domestic and international. Investors are taking Nigeria seriously again. They see a government that’s making tough but necessary choices.”

Bagudu likened the administration’s initial efforts to laying a robust foundation, which might not be immediately visible. “When someone starts by filling the hole under a house, you might think they’ve done nothing because you don’t yet see the walls. But President Tinubu has been honest. He said from the start: we’re in a hole, not because we want to blame the past, but because critical decisions were delayed for too long.” He noted that President Tinubu never sugarcoated the challenges but acknowledged them and began tackling them head-on.

The Minister also pointed to the increasing number of opposition politicians, including governors from states like Delta and Akwa Ibom, joining the ruling All Progressives Congress (APC) as a testament to the growing faith in President Tinubu’s leadership. “They’ve stated publicly why they joined, because of the sincerity and direction of this leadership. That’s not politics. That’s belief in a future that is being built with courage and vision,” Bagudu remarked, suggesting this trend reflects a shared belief in the administration's trajectory.

Echoing these sentiments, Mallam Aminu Suleiman, a member of the newly inaugurated North West Development Commission (NWDC), also spoke with journalists after paying a Sallah homage to President Tinubu in Lagos. Suleiman praised Tinubu’s leadership, asserting that “Tinubu’s two years is even better than the past government’s eight years,” and that the President's development vision is already taking shape. He expressed strong confidence that, given a full term, President Tinubu will transform Nigeria.

Suleiman particularly hailed the establishment of the NWDC, viewing it as a strategic inclusion of the North West in the national development agenda. “We are the largest population zone in the North, nearly 19 million people strong,” he stated. “It’s a very good development for the North West to be included, and I know, Insha Allah, we will ensure everything goes well.” He emphasized that the region deserved this focused intervention.

Drawing parallels with President Tinubu’s previous achievements, Suleiman remarked, “He has done it in Lagos. We know, God willing, he will do it for the entire country.” He urged Nigerians to exercise patience and trust in the President's leadership and vision. “Let us be patient. The foundation being laid is solid. With time, we will all see the results. Let’s trust the process,” he concluded.