Economic reforms driving political stability, inter-government synergy — Bagudu

By Progress Godfrey

ABUJA — Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu says President Bola Tinubu’s economic reforms are strengthening political stability and fostering unprecedented unity across Nigeria’s three tiers of government.

Speaking in Abuja yesterday during a meeting with the Agence Française de Développement (AFD) mission, Bagudu noted that the reforms have bridged the gap between the executive and legislature while streamlining coordination within the National Economic Council.

The Minister highlighted that Nigeria remains committed to bold macroeconomic shifts despite regional instability, noting that these measures have successfully stabilised the exchange rate and boosted investor confidence by reducing pre-election uncertainties. “The reforms have improved cooperation between the executive and legislative branches of government. The National Assembly has been very supportive of the President’s bold economic initiatives,” he told the AFD mission. 

“Of equal importance is the friendly relationship among the federal, state, and local governments,” he added.

Bagudu detailed the administration’s Renewed Hope Ward Development Plan, a bottom-up strategy designed to map the economic potential of Nigeria’s 8,809 wards to ensure inclusive, decentralised growth.

The government aims to build a $1 trillion economy by 2031 by prioritising agriculture, local manufacturing, and value chain development to drive job creation and food security at the household level. 

While acknowledging the short-term hardships associated with these policies, the Minister affirmed that the reforms are irreversible and essential for the nation’s long-term fiscal health and private-sector-led expansion.

AFD Country Director Jacky Amprou explained that the mission is conducting a comprehensive review of Nigeria’s structural reforms to update the agency’s country risk assessment and guide future financing.

Amprou recognised the significant economic shifts occurring since 2022 and stated that the agency seeks to understand the government’s roadmap for consolidating these gains and accelerating national development.

The mission confirmed that all future AFD interventions will be strictly aligned with Nigeria’s domestic priorities as the agency prepares a new Country Partnership Agreement to succeed the current framework.

Permanent Secretary of the Ministry, Dr. Deborah Odoh emphasised that international development support must integrate seamlessly with the upcoming 2026–2030 National Development Plan to maximise impact.

Odoh restated Nigeria’s position as a primary destination for global capital and expressed the government’s expectation for development partners to maintain strategic alignment with national growth objectives.

The post Economic reforms driving political stability, inter-government synergy — Bagudu appeared first on Vanguard News.