The Minister of Budget and Economic Planning, Abubakar Bagudu, has stated that Nigeria’s economy is undergoing a turnaround, driven by bold reforms, improved coordination, and a renewed focus on national priorities.
In a statement on Wednesday, Bagudu highlighted that the government’s “Renewed Hope Agenda” is effectively restoring investor confidence both locally and internationally.
“This is two years well spent,” Bagudu stated, emphasising the government’s commitment to ongoing economic reforms. “Mr President confronted Nigeria’s economic realities with bold and necessary choices, tough as they might be, and those measures are now yielding results.”
According to the minister, the reform-driven economy has seen four consecutive quarters of GDP growth, stability in the exchange rate, and a resurgence in private sector confidence.
“We have seen four quarters of successive economic growth, stability in foreign exchange, and appreciation by Nigerians and the international community. Rating agencies have consistently appreciated what we are doing,” he said.
Bagudu further mentioned that foreign and domestic investors have responded positively to the government’s economic agenda, particularly in sectors like agriculture, energy, and infrastructure.
“We have seen investors from Brazil, Belarus, and Saudi Arabia increasingly entering our agricultural space.”
