Tinubu reforms to rejuvenate Nigeria’s economy, says Bagudu to UN

the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged the United Nations to be more deliberate in showing support for the Federal Government’s economic reforms, explaining that it would encourage other countries to make the adjustments required to guarantee sustainable growth and development

Bagudu spoke on Tuesday in Abuja during a courtesy visit by the Deputy Director-General of the United Nations Industrial Development Organisation (UNIDO), Ms Fatou Haidara.

 He said despite the bold economic reforms of President Bola Tinubu’s administration to rejuvenate the nation’s economy and set it on the path of sustainable growth and development, the UN system had been slow in demonstrating its support. 

“Over the past year, Nigeria has undertaken what we consider very bold and courageous reforms, almost at risk to our leadership. But we don’t think the system, particularly the United Nations system has responded fast enough,” he said, adding, “We feel that we are missing maybe an element which will encourage other countries to embark on reforms if they don’t see the support.”

Bagudu told Haidara that many developing countries felt that the UN was no longer meeting their expectations and urged the UNIDO deputy director-general to carry forward the message so that amends could be made.

He said, “This issue was discussed at the Non-Aligned Movement Summit in Uganda. Many countries thought the United Nations system was deviating from the ideals of its founding fathers. We are telling you this so you can find a way of communicating the challenge or doing something about it.”

The minister thanked UNIDO for its support for the industrial sector in the last 40 years, specifically appreciating the organisation for establishing one of its investment and technology promotion centres in Nigeria.

Speaking earlier, Haidara appreciated Nigeria as an important UNIDO founding partner, pointing out that the cooperation with the country in the last 40 years had been rewarding.

She said her mission was to give a status report on the cooperation between Nigeria and UNIDO and seek further guidance, explaining that the main purpose of the organisation’s work was to support the national strategies of member states.

She thanked the Ministry of Budget and Economic Planning for its contributions to the development of the Program for Country Partnership (PCP), which she said would be the basis for further engagement with the country.

“My colleagues told me that all the meetings to design the PCP were held with your ministry and here. We are very honoured to be able to talk today about what we will be doing under this Program for Country Partnership,” Haidara said.

She revealed that the organisation had developed the ‘Agenda 2063,’ which she said was its strategy for Africa in line with the developmental priorities of African leaders.