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Hardship: Reforms painful but bearing fruits

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Bagudu News

Hardship

The Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, has said President Bola Tinubu’s economic reforms have started bearing fruits. He told newsmen on Friday in Abuja that the measures had restored faith in the country’s economy.

A statement by Bola Adebiyi, his Special Assistant on Media, quoted the minister as saying that foreign investors had renewed interest in Nigeria. “Although the removal of petrol subsidy caused some pain, the policy has increased the quantum of funds available to the three tiers of government to invest in critical infrastructure. “This critical infrastructure will regenerate the economy; before 29 May 2023, the finances of the government were fragile.

“All the sectors that will enable the gains to be achieved, including agriculture, infrastructure and security have seen more funding. “Sectors that secure our future like education, health and social investment have received increased budgetary allocation. “Programmes were also introduced to support the sectors so that manufacturing activities could resume and agricultural activity could be better supported on a more sustainable basis,” he said.

 

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