“Tinubu’s Minister Urges Nigerians to Spend Wisely, Citing Nation’s Limited Wealth”

The Minister of Budget and National Planning, Atiku Bagudu, has encouraged Nigerian families to engage in open discussions about better managing their resources, urging them to focus on essential needs. Bagudu emphasized that Nigeria is not as wealthy as commonly perceived, calling for more careful financial management both at the national level and within households.

Speaking on Wednesday in Abuja, Bagudu made these remarks after a meeting between Federal Government officials and representatives of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).The meeting was held amidst worsening economic difficulties, heightened by rising energy and food prices.

Bagudu highlighted that the Bola Tinubu administration has made difficult but necessary decisions to drive long-term economic growth. He defended the government’s policies, explaining that state and local governments are now better funded, and the reforms are already attracting more investment.

“Tough choices may bring challenges, but we are managing them. Many of the steps we’ve taken are already leading to increased investments,” Bagudu said.He noted that although the country is not yet where it needs to be, progress has been made. He urged Nigerians to face the reality that the nation’s wealth has been overestimated.Bagudu stressed the importance of collective efforts, both within families and across the nation, to mobilize resources more efficiently in light of the country’s economic difficulties.

Nigerians are currently enduring one of the most severe economic crises in recent history, with inflation spiking due to rising energy and food costs.Critics have blamed President Bola Tinubu’s policies, particularly the removal of the petrol subsidy and the unification of exchange rates, for the ongoing economic instability.Many argue these measures have triggered unbearable inflation and dramatically increased the cost of living.