Senator Abubakar Bagudu, Nigeria’s Minister of Budget and Economic Planning, has acknowledged that the recent #EndBadGovernance protests compelled the federal government to take the concerns of Nigerians more seriously.
Speaking at the Nigerian Economic Summit Group’s “National Economic Dialogue on Nigeria’s Economic Future: 25 Years of Democracy and Beyond,” Bagudu emphasized that the protests highlighted the need for urgent action and greater responsiveness from the government.
“We have learned that the current protests have made us listen more,” Bagudu stated. “Whatever we are doing, we have taken the message that we need to do more, we need to do better, and we need to act quickly.”
Bagudu also pointed out that despite the challenges inherited from previous administrations, President Bola Tinubu has refrained from placing blame and is instead focused on addressing the nation’s pressing issues. He acknowledged that, while progress has been made, Nigeria is still far from where it needs to be in terms of economic growth and development.
“Our population has grown from 119 million in 1999 to about 230 million today, almost doubling. However, our oil production, which was 2.2 million barrels per day in 1999, has not kept pace, currently standing below 1.5 million barrels. This reflects years of underinvestment in the sector,” Bagudu explained.
He emphasized the importance of the Nigerian Constitution’s Chapter 2, which outlines the country’s political and economic objectives, as a guide for achieving national development goals. Bagudu highlighted the need for significant investments, estimating that at least $100 billion annually would be necessary to meet the nation’s aspirations by 2050.
In conclusion, Bagudu underscored that while the journey has been challenging, the government is committed to making the difficult but necessary choices to improve the country’s fortunes and meet the expectations of its citizens.
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