The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, says President Bola Ahmed Tinubu resisted the temptation of self-deception when he took the decision to remove fuel subsidy upon assuming office on May 29, 2023.

Speaking during the graduation ceremony of the 22nd cohort of the Centre LSD Leadership School, in partnership with Konrad Adenauer, held on Saturday in Abuja, he recalled that President Tinubu took the decision at a time when there was a military takeover of governments in neighbouring Niger, Burkina Faso and Mali.

The minister insisted that the President took the right action, as he couldn’t have been living in self-denial, since the economy, at its lowest ebb, could not sustain the retention of fuel subsidies to the detriment of the well-being of the citizenry.

The minister who referred to appreciable growth recorded within the last two years noted that the fact that revenue generation and statutory allocations to the three tiers of government tripled, coupled with the 80 percent reduction in domestic debts in most of the states of the Federation, spoke volumes of the positive impact being recorded by the renewed Hope Agenda of the President Tinubu-led administration.

The minister further referred to Nigeria’s GDP growth, which is on the rise, with the World Bank projecting a 3.7 per cent increase in 2025, to buttress his assertion.

Noting that Nigeria is on the right track towards achieving sustainable growth and development, he remarked that it would be hasty to compare the country’s growth level to that of Rwanda and Singapore, given its constitutional democracy and free market economy.

Recalling the developmental strides of President Tinubu during his tenure as Governor of Lagos State, Bagudu assured that the feat is being replicated at the national level.

He said that under the President Tinubu-led administration, Nigeria is being positioned to not only be self-reliant but also to become an exporter of goods abroad, rather than remaining an import-dependent nation.

He reiterated that the President Tinubu-led administration adheres to the dictates of Chapter 2 of the 1999 Constitution, which outlines the fundamental objectives and directive principles of state policy, as well as the Vision 2050. This entails, among other things, an annual investment of $100 billion to reposition the country.

Applauding the founding Executive Director of the Centre LSD, Dr. Otive Igbuzor, for the initiative, he disclosed that the President Tinubu-led administration is open to suggestions on how to move the country forward.

“Under President Tinubu, we don’t have all the answers. We are humbled by any interrogation, by any suggestions to get it right. Our Renewed Hope Agenda acknowledges that we are not yet there. But where necessary, we should take bold, courageous decisions for the good of the country,” he said.

Igbuzor asserted that leadership is one of the most important variables that affect the performance of any organisation, institution or nation.

He said despite milestones recorded by Nigerians in the mould of Amina Mohammed as the Deputy Secretary General at the United Nations, Dr. Adewumi Adesina at the African Development Bank, Dr. Ngozi Okonjo-Iweala as the President of the World Trade Organisation, Dr. Osahon Enabulele as the Director General of the World Medical Association, as well as Aliko Dangote, Abdulsamad Rabiu and Mike Adenuga in the private sector, this have not been replicated in the political arena in Nigeria.

He explained that the goal of Centre LSD leadership school was therefore to develop the leadership capabilities of individuals and prepare them to be dynamic, visionary and strategic leaders in organisational settings.

He explained that the Centre LSD leadership school operates in Abuja, Warri (Delta State), Port Harcourt (Rivers State), Benin City (Edo State), Abakaliki (Ebonyi State) and Jos (Plateau State) and has so far graduated 2,950 students from across the country.