Minister of Budget and Economic Planning, Senator Atiku Bagudu, has praised the bold economic reforms of President Bola Ahmed Tinubu’s administration, saying they are steadily setting Nigeria’s economy on a path to long-term recovery and sustainable growth.

Speaking to reporters on Saturday night after a courtesy visit to the president at his Lagos residence, Bagudu described the policy shifts implemented over the past two years as “long overdue” and “transformative,” with tangible benefits already beginning to emerge.

“We’re not where we want to be, but these steps have turned the economy in the right direction,” Bagudu stated.

According to the minister, Nigeria had suffered from decades of underinvestment and poor fiscal decisions, including an over-reliance on subsidies that strained government revenues. He said the removal of fuel subsidies and the unification of the exchange rate have freed up critical resources now being redirected toward infrastructure, agriculture, education, and economic empowerment.

“Decades of underinvestment brought Nigeria to a point where even paying salaries was difficult,” he noted. “By cutting these subsidies, we freed up resources. Today, sub-national governments—states and local governments—have nearly tripled the funds they had before. That’s transformative.”

Bagudu added that the reforms are no longer abstract policy points but are resulting in real, measurable impacts across key sectors, including security, digital innovation, consumer credit, and human capital development.

He also emphasized the return of investor confidence in Nigeria, citing an increase in both domestic and foreign investment as evidence that “investors are taking Nigeria seriously again.”

“One of the greatest differentiators between developed and developing countries is the level of investment—both public and private,” Bagudu said. “We are now correcting years of neglect. That is a Herculean task, and that is central to these reforms.”

Using a metaphor, the minister likened the administration’s groundwork to rebuilding a house from its foundation: “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 to blame the past, but because critical decisions were delayed for too long.”

Commenting on the wave of defections from opposition parties to the All Progressives Congress (APC), Bagudu said the trend reflected widespread confidence in Tinubu’s leadership rather than mere political opportunism.

“They’ve stated publicly why they joined—because of the sincerity and direction of this leadership,” he said. “That’s not politics. That’s belief in a future that is being built with courage and vision.”

Bagudu concluded by assuring Nigerians that the administration’s reforms are not only working but also laying the groundwork for a stronger, more resilient economy, despite the current challenges facing the country.