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From Isaac Anumihe, Abuja
The federal government has attributed the economic hardship facing Nigerians to global shocks, including international conflicts, trade tensions, rising energy costs and the increasing prices of agricultural inputs such as fertiliser.
Minister of Budget and Economic Planning, Senator Atiku Bagudu, made this known on Tuesday at the Catholic Relief Services (CRS) Nigeria Impact Showcase in Abuja, where he said the country, like many others, is grappling with external economic pressures that have affected livelihoods across key sectors.
According to the minister, the global disruptions have placed enormous strain on farmers, transport operators, businesses and households, making stronger collaboration between government, humanitarian organisations and development partners more important than ever.
Bagudu said while the Federal Government has rolled out interventions to cushion the impact of ongoing economic reforms, more needs to be done to ensure that support reaches vulnerable Nigerians.
He stressed that tackling the country’s development challenges requires collective action, noting that organisations such as CRS play a vital role in identifying underserved communities and bridging gaps in government interventions.
“We must recognise that those who have been supporting us must work with government so that, where our reach has not been effective, we can strengthen them. And where we have learning to do, we should also be humble enough to acknowledge that,” he said.
The minister assured CRS and other development partners of the Federal Government’s commitment to sustaining partnerships that promote inclusive development and improve the welfare of Nigerians.
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Bagudu said Nigeria’s federal structure provides opportunities for stronger collaboration among the federal, state and local governments as well as humanitarian organisations working to empower vulnerable communities.
He also commended CRS for its humanitarian interventions, describing the organisation as a critical partner whose work transcends religious boundaries and contributes significantly to national development.
“Peace and harmony are ensured when all are included. That is why the role of organisations such as the CRS is important. They help us identify not only the issues in our society but also those who are missed out despite the best-designed interventions,” Bagudu said.
The minister noted that the Federal Government’s ongoing economic reforms under President Bola Ahmed Tinubu are aimed at repositioning the economy, boosting productivity and laying a stronger foundation for sustainable growth.
He, however, acknowledged that such reforms often have uneven impacts on different segments of society, prompting the government to introduce targeted support programmes for low-income households, small businesses, traders and farmers.
“Whenever you implement bold reforms, whether at the family, community, or national level, they will have disproportionate effects on different parts of the populace. Therefore, we have to be more deliberate,” he said.
Bagudu added that forums such as the CRS Nigeria Impact Showcase provide an opportunity for government and development partners to assess progress, identify gaps and strengthen collaboration to deliver greater impact for Nigerians.
In a statement issued by the minister’s Special Adviser, Bolaji Adebiyi, the Federal Government reiterated its commitment to working closely with humanitarian and development organisations to ensure that ongoing reforms translate into improved living standards, particularly for vulnerable and underserved communities.
