President Bola Tinubu’s economic reforms are fostering political stability and promoting stronger collaboration among Nigeria’s federal, state, and local governments, according to the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu.
Addressing representatives from Agence Française de Développement (AFD) in Abuja yesterday, Bagudu explained that the reforms have enhanced cooperation between the executive and legislative arms while improving coordination within the National Economic Council.
The Minister emphasized Nigeria’s determination to pursue ambitious macroeconomic changes despite regional challenges, pointing out that the policies have stabilized the naira exchange rate and strengthened investor confidence by reducing political uncertainties.
“The reforms have strengthened the relationship between the executive and legislative branches. The National Assembly has given strong backing to the President’s economic initiatives,” Bagudu informed the AFD delegation.
“Equally significant is the improved partnership among federal, state, and local governments,” he stated.
Bagudu outlined the administration’s Renewed Hope Ward Development Plan, a grassroots approach aimed at identifying economic opportunities across Nigeria’s 8,809 wards to promote inclusive development.
The government plans to achieve a $1 trillion economy by 2031 through investments in agriculture, local manufacturing, and value chain expansion to create jobs and ensure household food security.
While recognizing the immediate challenges stemming from these policies, the Minister stressed that the reforms are necessary and irreversible for Nigeria’s long-term economic health and private sector growth.
AFD Country Director Jacky Amprou said the mission is evaluating Nigeria’s structural reforms to update the agency’s risk assessment and inform future funding decisions.
Acknowledging the major economic transformations underway since 2022, Amprou indicated the agency wants to understand the government’s strategy for sustaining these achievements and accelerating development.
The delegation confirmed that all upcoming AFD programs will align with Nigeria’s national priorities as the agency develops a new Country Partnership Agreement to replace the existing framework.
Dr. Deborah Odoh, Permanent Secretary of the Ministry, stressed that international development assistance must align with the forthcoming 2026–2030 National Development Plan for maximum effectiveness.
Odoh reaffirmed Nigeria’s position as an attractive destination for global investment and called on development partners to maintain strategic alignment with the country’s growth agenda.
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