As President Bola Tinubu marks two years in office, key government officials have defended the administration’s economic decisions, asserting that the reforms though difficult beginning to reposition Nigeria for long-term recovery and growth.
Minister of Budget and Economic Planning, Atiku Bagudu, and a member of the North West Development Commission (NWDC), Aminu Suleiman, spoke to journalists on Saturday night in Lagos after paying a Sallah visit to the President at his Ikoyi residence.
Bagudu, addressing the state of the economy, described Tinubu’s reform agenda as a course correction for years of policy inaction and fiscal unsustainability.
“We’re not where we want to be, but these steps have turned the economy in the right direction,” the minister said.
He highlighted the administration’s bold decisions to eliminate fuel, electricity, and foreign exchange subsidies, which he said had previously drained public finances while offering minimal long-term benefit.
“Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult. By cutting these subsidies, we freed up resources. Today, states and local governments have access to nearly three times the funds they had before. That’s transformative.”
According to Bagudu, these increased revenues are being redirected into critical sectors such as infrastructure, agriculture, education, security, and digital innovation laying the groundwork for structural growth.
He added that the reforms are already sparking renewed investor confidence.
“One of the greatest differences between developed and developing countries is the volume and consistency of investment both public and private. That’s what we’re now correcting. There’s a visible return of private capital, both domestic and international. Investors are taking Nigeria seriously again.”
Bagudu likened the early stages of Tinubu’s reforms to foundational work that may not be immediately visible but is crucial to future stability.
“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 acknowledged from the outset that we were in a hole not to assign blame, but to take responsibility for long-overdue decisions.”
Reflecting on recent political realignments, Bagudu noted that the defection of opposition figures including governors from Delta and Akwa Ibom states to the All Progressives Congress (APC) is a testament to growing confidence in the Tinubu administration.
“They’ve explained why they joined the APC because of the sincerity and direction of this leadership. That’s not just politics; that’s belief in a shared vision for the future.”
Also speaking at the event, NWDC commissioner Aminu Suleiman made a strong case for patience with the Tinubu administration, asserting that its achievements in two years surpass those of the previous government’s entire eight-year tenure.
“Tinubu’s two years have already delivered more than the past administration. Given a full four-year mandate, I am confident he will transform Nigeria.”
Suleiman welcomed Tinubu’s inclusion of the North West region in the national development agenda, particularly through the creation of the North West Development Commission.
“We represent the largest population bloc in the North nearly 19 million strong. The establishment of the NWDC is a significant step. With focus and the President’s commitment, we’ll ensure it delivers.”
He urged Nigerians to trust in the President’s leadership, citing Tinubu’s record in Lagos in areas such as infrastructure, institutional reform, and public finance management.
“We’ve seen what he did in Lagos. With that same vision and track record, I believe he will bring lasting transformation across Nigeria. Let us be patient the foundation being laid is solid. With time, we will all see the results.”
