The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has said President Bola Tinubu has a clear strategy to reform and revive the nation’s economy.
The minister spoke while receiving members of the House of Representatives Committee on National Planning and Economic Development, who were on an oversight visit to his ministry’s headquarters in Abuja on Wednesday.
Bagudu acknowledged that the strategy is currently faced with some volatility but expressed confidence that the federal government would overcome the prevailing challenges.
The minister explained to the committee chairman, Ayokunle Isiaka, that the goal was to achieve a higher rate of growth that is all-inclusive, reform the macroeconomic policy to generate more revenue, and have a foreign exchange market that is rule-based and can generate investment and investor confidence.
“I am proud to say we are clear about how to handle the challenges. Of course, in the immediate future, we have to respond more to support vulnerable populations and those who are otherwise affected.
“But our strategy is very clear and we appreciate that the National Assembly fully supports all the bold and commendable measures that have been taken even while calling for more interventions to ensure that constituents who are affected by the reform efforts are supported until we tide over the storm, which I believe will be soon,” he said.
The minister said President Tinubu was determined to return the nation to a plan-based budget regime, informing the visiting committee members that new legislation was being put together to properly align budgeting with national planning.
