Contrary to the fears of Nigerians, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu CON, believes strongly that the Tinubu administration’s “Renewed Hope Agenda,” is on the right track to spur growth in the Nigerian economy. The Minister who spoke at a Ministerial Sectoral Update in Abuja, apologised to Nigerians over the pains they are encountering as a result of the government economic policies.
He described the current economic challenges as pains accompanying an overdue economic restructuring. He acknowledged that both the foreign exchange rate and inflation figures were still above target levels, putting strain on the economy and the citizens’ pockets.
As a policy analyst, I will attempt to make a few inferences from Bagudu’s submissions. First, the minister appears to be an optimist. Optimists see the positive side of things. They expect things to turn out well, even from very bad situations.
Secondly, as a seasoned economist, the former Kebbi State governor understands the dynamics of macroeconomic policies and their importance to providing a stable economic environment that is conducive to fostering strong and sustainable economic policy.
Thirdly, Bagudu believes that the reforms, although painful, present an opportunity for Nigeria to take advantage of “Renewed Hope Agenda” to reposition herself from backwardness towards the path of economic recovery in order to achieve sustainable economic growth.
In conclusion, I see the submissions of Bagudu as patriotic, timely and a message of hope for Nigerians. It shows that he is a staunch believer in the ability of the president to offer Nigeria a fresh start in the direction of progress and prosperity.
Nzomiwu, a policy analyst wrote from Awka, Anambra State
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