Nigeria’s Minister of Budget and Economic Planning, Atiku Bagudu has assured citizens that the 2025 budget will usher in significant improvements to living standards, marking an end to the nation’s economic challenges.
Bagudu made this statement on Sunday in Lagos State after a meeting with President Bola Ahmed Tinubu, following a brief session with officials who had engaged with Saudi Arabian government representatives and investors.
“We have turned the bend. I think we have taken the tough choices; we have seen the worst we could see and not unexpected. That is why social protection was improved,” Bagudu stated.
Highlighting the key priorities of the 2025 budget, currently awaiting approval from the National Assembly, the Minister of Budget and Economic Planning stated that ordinary Nigerians, including small-scale traders and farmers, can expect an improved economy, reduced inflation, increased job opportunities, and enhanced support for businesses.
He further stated that “the budget also focuses on infrastructure development, human capital investment, and improved security.”
“The quality of life will get better, Bagudu said confidently.
The Minister also conversed on Nigeria’s strengthening relationship with Saudi Arabia, noting that it reflected confidence in President Tinubu’s leadership and his acceptance on the global stage.
He recounted the recent visit by the Nigerian delegation to Saudi Arabia, during which significant advancements were made in enhancing bilateral relations
“Our engagements with Saudi officials demonstrated their confidence in President Tinubu’s leadership. They see in him someone who is taking bold steps to transform society, much like Crown Prince Mohammed bin Salman did for Saudi Arabia,” Bagudu noted.
He compared President Tinubu’s reform initiatives, such as the removal of subsidies, to the transformative measures taken by Saudi Arabia’s leadership, saying these reforms demand political bravery and have established a foundation for sustainable economic growth.
“The Saudis appreciate that our President has taken risks that are unusual, and they celebrate his courage and capacity. For me, that is the number one achievement for our country,” he said.
Bagudu expressed confidence that the strengthening relationship with Saudi Arabia would result in increased investments, enhancing Nigeria’s foreign reserves and fostering greater economic collaboration.
VON