Ministry of Budget and Economic Planning of Nigeria

08/06/2026

https://x.com/i/status/2061458412295119232

12/05/2026

Bagudu urges more German investment in Nigeria, lists gains from Tinubu’s reforms

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged German businessmen to deepen their investment in Nigeria, saying that President Bola Tinubu’s reforms have broadened investment opportunities in the country.

The minister spoke at the Nigeria–Germany Business Day, themed “Germany and Nigeria: Cooperating for Development and Business Promotion,” in Lagos on Monday night, and highlighted the gains of the reform, including macroeconomic stability, which he said has made the economy more predictable for investment.

“Under President Bola Tinubu’s leadership, decisive measures have been implemented to restore macroeconomic stability, improve fiscal sustainability, strengthen investor confidence, and reposition the economy for long-term growth,” he told participants at the forum hosted by the German Embassy.

He explained that the key reforms, including the removal of fuel subsidies, liberalisation of the foreign exchange market, enhanced revenue mobilisation, and broader structural adjustments, were difficult but necessary measures to promote long-term, sustainable economic growth and to restore investor confidence in the country.

Bagudu told participants, including senior government officials, investors, and business leaders from both countries, that the reforms’ impact is gradually becoming apparent.

According to him, “Nigeria’s revenue performance improved significantly, with total collected revenue rising from about ₦19.9 trillion in 2023 to over ₦28 trillion in 2025, exceeding government targets.

“Foreign exchange reserves rose to over US$46 billion in early 2026 — the highest level in almost eight years — helping to stabilise the foreign exchange market and strengthen investor confidence.”

The minister explained that inflation, which had reached elevated levels during the adjustment period, has shown signs of gradual moderation.

He noted that international credit rating agencies, including Fitch and S&P Global, revised Nigeria’s outlook to Stable, reflecting growing confidence in the country’s reform trajectory and macroeconomic management.

“Nigeria’s capital market also delivered a strong performance in the first quarter of 2026, with the Nigerian Exchange among the better-performing emerging markets globally,” the minister said, adding, “Importantly, Nigeria remains off the FATF grey list, reinforcing confidence in the country’s financial and regulatory systems.”

Bagudu said these significant leaps should encourage German businesses to explore the growing opportunities in the Nigerian economy under President Tinubu’s management, and to build on the existing economic relations between Nigeria and Germany.

Describing the country as “one of Africa’s most significant long-term growth opportunities,” the minister highlighted that bilateral trade between the two countries rose by almost 30 per cent to approximately €3 billion in 2025, making Nigeria Germany’s second-largest trading partner in Sub-Saharan Africa.

He stated that more than 90 German companies currently operate in Nigeria across key sectors, including energy, manufacturing, healthcare, logistics, and industrial services.

Speaking about Nigeria’s long-term economic vision, the minister reiterated the government’s commitment to achieving a One Trillion Dollar economy by 2030 through the investment-led National Development Plan (2026–2030), which he said places the private sector at the centre of national transformation.

He emphasised that sustainable growth would require stronger partnerships with domestic and international investors, particularly in priority sectors including renewable energy, agro-processing, manufacturing, the digital economy, and technical and vocational education.

The minister also highlighted emerging opportunities for German investment in Nigeria’s energy transition, agriculture and agro-processing, industrialisation, digital innovation, and skills development, noting that Nigeria’s Energy Transition Plan requires substantial private investment to expand energy access and accelerate clean energy deployment.

He said ongoing programmes in agro-industrial processing and digital skills development continue to create new opportunities for partnership and growth.

Bagudu encouraged both Nigerian and German businesses to convert the engagements from the Business Day into concrete investments and long-term partnerships that can drive industrial growth, job creation, technology transfer, and shared prosperity between the two countries.

26/03/2026

Nigeria and UNDP are strengthening collaboration to drive inclusive economic growth, focusing on opportunities that benefit all segments of society.










Read more:
https://dnnmedia.ng/undp-and-nigeria-partner-to-drive-inclusive-economic-growth/

26/03/2026

FG Ramps Up Efforts to Sign Subsidiary Agreement With States To Participate in $500m HOPE Governance Program

The Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr. Deborah O. N. Odoh, has stated that the Ministry is collaborating closely with the Federal Ministry of Finance to ensure that all 36 states of the Federation sign the Subsidiary Loan Agreement that would enable them to participate in and benefit from the

-assisted HOPE Governance Program, aimed at improving service delivery in the basic education and primary healthcare sectors.

Dr. Deborah Odoh made this remarks in Abuja on Wednesday when she received the HOPE Governance Team from the World Bank on a courtesy visit to her office.

“We have been strategising with the Federal Ministry of Finance with the involvement of our Honourable Minister Sen. Abubakar Atiku Bagudu. We will put in extra efforts to make it happen even faster given the time constraints. We have a timeline drawn up recently to achieve this,” she said.

The Permanent Secretary pledged to provide all the necessary institutional support to ensure that HOPE Governance delivers significant impact across the country.

“I’m glad we are having this meeting, which is long overdue and certainly we are here all the time. We expect to see more tangible results and impact shortly,” she said.

The World Bank Task Team Leader, HOPE Governance Program, Ikechukwu John Nweje, had earlier appealed to the Permanent Secretary to utilise all available channels within the Ministry to engage state governments and secure the signing of the Agreement, thereby enabling them to access funds under the Program upon verification of the Disbursement-Linked Results.

“However you can help us to fast track these processes, this will really be appreciated to get this program up and running in terms of disbursement,” he said.

He stressed that governance remains a key challenge to improved service delivery in the basic education and primary healthcare sectors, which is why the Federal Government, in collaboration with the World Bank, has initiated the HOPE Governance Program to address the issue.

“If the governance part fails, we will continue to have the same problems we are having on the sectoral side. That is why the ministers prioritised governance because they found out that governance is the issue in the two sectors that will help to unlock the ability to deliver results,” he stated.

Earlier, the National Coordinator of the HOPE Governance Program, Dr. Assad Hassan, stated that the meeting was convened with the World Bank to apprise the Permanent Secretary of the milestones recorded and the challenges encountered in the implementation of the Program so far.

The HOPE Governance Program is a $500 million World Bank-assisted initiative domiciled in the Federal Ministry of Budget and Economic Planning, aimed at promoting good governance in the administration of basic education and primary healthcare in Nigeria.

Joe Mutah
Communications Officer
HOPE Governance Program
26th March, 2026

26/03/2026

https://x.com/HOPE_GOV/status/2037161127197471077?s=20

13/03/2026

https://nationalplanning.gov.ng/Bpg_info/45/Stakeholders-Convene-in-Nasarawa-for-Capacity-Building-on-Cassava-Bio-Ethanol-Value-Chain-Development-

Federal Government of Nigeria through the Federal Ministry of Budget and Economic Planning, has commenced the process of scaling up the production of Fuel Grade Ethanol (FGE) for blending with Premium Motor Spirit (PMS), aimed at significantly reducing the National Energy Import Bill; which will in....

12/03/2026

Farmers’ group proposes collaboration with FG on ward development programme.

President Bola Tinubu’s administration’s grassroots economic emancipation initiative, the Renewed Hope Ward Development Programme, has received support from a farmers' group, the Crop, Aquaculture, Livestock Farmers and Value Chain Economic Actors Association of Nigeria.

During a meeting with the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, in Abuja on Wednesday, the group offered to collaborate with the federal government to accelerate the programme's implementation.

Unveiled last year by the president, the programme aims to reset development planning by boosting economic activities at the ward level through collaboration among the federal, state, and local governments.

Welcoming the delegation, led by Mr Aliyu Adulraheem, the minister emphasised the importance of dialogue between government institutions and organised stakeholders in advancing Nigeria’s development agenda.

He noted that the ministry remains willing to collaborate with professional associations, civil society organisations, and private-sector actors to carry out its mandate more effectively.

According to the minister, the Renewed Hope Ward Development Programme is a significant effort to overhaul Nigeria’s development framework by promoting stronger cooperation among the federal, state, and local governments, while also involving citizens and development partners in a “whole-of-society” approach to national progress.

He explained that Nigeria’s constitutional framework assigns development responsibilities to the three tiers of government, but in practice, these roles have not always been well coordinated, often resulting in duplication, inefficiencies, and interruptions in development initiatives.

“The Renewed Hope Ward Development Programme aims to address this by concentrating development planning at the ward level, which is the lowest administrative unit in Nigeria’s governance structure,” the minister said.

He stated that Nigeria has 8,809 wards, each with unique economic prospects that can be accessed through targeted interventions.

“Our belief is that every ward in Nigeria is an acre of diamonds waiting to be uncovered. Each community has its own strengths and potential, and development strategies must reflect these distinctive qualities," he said.

The minister explained that the programme aims to enable communities to identify their own development opportunities rather than relying solely on a top-down approach. Under the initiative, wards will determine their priority economic opportunities, after which the federal government, state governments, local authorities, and development partners will work together to provide the necessary support.

He emphasised the importance of human capital as the main resource of any community, stressing that development planning must start with an understanding of the people and skills present within each locality.

In reference to President Bola Tinubu’s vision of transforming Nigeria into a $1 trillion economy, the minister stated that decentralised development initiatives, such as the Renewed Hope Ward Development Programme, would play a key role in unlocking economic opportunities across the country.

The ministry’s Permanent Secretary, Dr Deborah Odoh, praised CALFAN for its dedication to bolstering Nigeria’s agricultural sector and recognised the vital role of partnerships in fostering inclusive economic growth.

She noted that agriculture remains a critical pillar of Nigeria’s economic transformation, playing a major role in food security, employment generation, rural development, and economic diversification.

“The Renewed Hope Ward Development Programme aims to unlock economic opportunities at the grassroots level by supporting community-driven initiatives that can boost productivity and prosperity within each ward across the federation,” she said.

She added that working with organised groups like CALFAN could help improve programme delivery and strengthen engagement with farmers, co-operatives, producers, and other stakeholders across the agricultural value chain.

In response, CALFAN’s National President, Abdulraheem, outlined the association’s proposal to serve as a field-level implementation partner for the Renewed Hope Ward Development Programme.

He highlighted CALFAN’s extensive grassroots structure, including Ward-Level Extension Service Offices (WESOs) and a digital platform that supports real-time beneficiary identification, community mobilisation, data collection, and monitoring of development activities.

The presentation states that the proposed platform will facilitate economic mapping of rural communities, infrastructure assessments, digital surveys, and real-time data collection to support evidence-based policy decisions and programme monitoring. CALFAN highlighted its inclusive approach that encompasses the entire agricultural value chain, including farmers, input suppliers, processors, transporters, traders, and service providers.

The meeting offered an opportunity for dialogue on how CALFAN’s grassroots infrastructure and digital platforms could support the Federal Government’s efforts to promote inclusive economic growth and grassroots development.

It concluded with appreciation for CALFAN’s presentation and a commitment to ongoing engagement and collaboration to advance the goals of the Renewed Hope Ward Development Programme and Nigeria’s broader economic development agenda.

11/03/2026

https://x.com/BolajiAdebiyi2/status/2031045058514821274?s=20

09/03/2026

Bagudu underscores significance of reliable population data for national development.

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has emphasised the importance of reliable population data for sustainable national development.

He spoke over the weekend during a familiarisation visit by the Chairman of the National Population Commission (NPC), Dr Aminu Yusuf, who led a delegation of federal commissioners and senior officials to the ministry’s headquarters in Abuja.

Bagudu, who congratulated Yusuf on his appointment, assured the commission of the federal government’s support, stating that the President Bola Tinubu administration recognises the strategic importance of credible population data in addressing Nigeria’s development challenges and shaping effective public policy.

According to him, dependable demographic data remains essential for national planning, fair resource distribution, and the development of policies that address citizens' needs.

“If we truly want to solve Nigeria’s problems, we must be deliberate about understanding and organising our resources, especially our people,” the minister said.

He emphasised that meaningful development cannot occur without accurate information about the country’s population, noting that the government must understand where people live, their living conditions, and the opportunities available within their communities.

Bagudu further remarked that Nigeria’s expanding population offers a substantial development opportunity if managed appropriately.

Drawing comparisons with countries such as China and India, he explained that large populations can become powerful drivers of economic growth when backed by effective planning and strong institutions.

The minister also emphasised the importance of demographic and spatial data in recognising economic opportunities across Nigeria’s communities.

He stated that such information could support the government’s efforts to promote decentralised development by enabling each ward, local government, and state to identify and utilise its comparative advantages.

“There is no community in Nigeria without potential,” he said, adding that some communities may possess agricultural strengths, others have mineral resources, while many serve as important commercial hubs.

He emphasised that reliable population data is also crucial for building trust and fairness within Nigeria’s federal system, as it offers a transparent foundation for planning and resource allocation.

While recognising the financial challenges involved in conducting a modern national census, the minister assured that the federal government is exploring innovative funding options, including collaboration with development partners, to guarantee the successful implementation of the exercise.

In his remarks, NPC Chairman, Dr Aminu Yusuf, stated that the visit was part of efforts to deepen cooperation between the Commission and the Ministry in strengthening Nigeria’s national planning framework.

He explained that the National Population Commission is constitutionally required to produce accurate demographic data for national planning and sustainable development.

According to him, the Commission carries out population and housing censuses, coordinates the Civil Registration and Vital Statistics (CRVS) system, produces population statistics for policymaking, and monitors the implementation of the National Population Policy for Sustainable Development.

Yusuf noted that the commission is currently progressing with plans to develop a modern, technology-based, and integrated population data management system for Nigeria.

He said this includes preparations for a credible and technology-enabled population and housing census, as well as the expansion and digitalisation of the country’s civil registration system to ensure continuous registration of births and deaths.

Yusuf also commended Bagudu for heading the presidential committee responsible for reviewing the financial and operational framework for the upcoming national census.

He stated that the committee’s work demonstrates the federal government’s dedication to carrying out the exercise within a transparent and fiscally sustainable framework.

Yusuf highlighted that precise population data is essential for development planning, the effective implementation of government programmes, and monitoring progress towards national development goals.

He reiterated the commission’s commitment to transparency, accountability, and close collaboration with relevant government institutions in strengthening Nigeria’s population data system.

29/01/2026

https://nationalplanning.gov.ng/Bpg_info/38/Tinubu-s-Economic-Reforms-on-Track--Strengthening-Political-Cohesion--Says-Bagudu-

President Bola Tinubu’s ongoing economic reforms are progressing well and have the unusual outcome of strengthening political consensus in the country, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said on Wednesday in Abuja.