Nigeria’s economic reforms under President Bola Ahmed Tinubu have increased funding for subnational governments, enabling them to provide more amenities for citizens, Minister of Finance, Budget and National Planning, Mr. Bawa Bagudu, said at the National Economic Council (NEC) Conference in Abuja.
Speaking at the conference, which concluded in the federal capital, Bagudu emphasised that Nigeria is now a more united federation as a result of the bold economic decisions made by the president. He highlighted Tinubu’s support for the NEC — which includes the 36 state governors and the Federal Capital Territory Minister — noting that it has fostered greater cooperation among the federal, state, and local governments.
Bagudu described Tinubu’s approach as a demonstration of his commitment to cooperative federalism. “In the NEC, governors have been given opportunities to contribute to most of the reform measures, and commendably, most of them — regardless of party — believe the president is pursuing what our country needs and fully support the federal government. In fact, some have said they can’t justify being in another party,” he said.
The minister highlighted the tangible outcomes of the reforms, noting that the fiscal condition of states and local governments has improved, with the federal government shouldering the main burden of implementing the measures. He stressed that Tinubu’s prioritisation of lower levels of government reflects his belief that true federalism lies in empowering the units closest to the people and fostering sustainable economic value at the grassroots.
Bagudu pointed to the president-approved Renewed Hope Ward-based Development Programme, which seeks to identify economic activities in Nigeria’s 8,809 wards and support their growth. He credited the programme with enabling targeted, localised development across the federation.’
He also congratulated President Tinubu for the international recognition of his economic reforms. “Just last week, a visiting World Bank delegation led by the Managing Director, Operations, told the world that Nigeria’s reforms have become a global benchmark. An IMF report covering the same period also listed Nigeria among the 10 leading countries contributing most to global economic growth,” Bagudu said, noting endorsements from global leaders, international organisations, and private sector actors.
The NEC Conference, themed ‘Delivering Inclusive Growth and Sustainable Development: The Renewed Hope National Development Plan 2026–2030’, was the second in 10 years and was chaired by Vice-President Kashim Shettima, who also serves as NEC chairman.
