The Minister of Budget and Economic Planning, Abubakar Bagudu, announced that economic reforms under President Bola Tinubu have reduced the domestic debt of Nigeria’s 19 Northern states by 42.06%, from N1.98 trillion to N1.14 trillion, as part of a broader 33.4% national debt reduction from N5.8 trillion to N3.8 trillion. Speaking at a Kaduna event hosted by the Sir Ahmadu Bello Memorial Foundation, themed “Assessing Electoral Promises,” Bagudu credited the reforms, particularly the fuel subsidy removal, for enhancing fiscal stability.
The reforms have significantly boosted federal allocations, with net statutory revenue and VAT for states and local governments soaring 116.17% from N458.81 billion in May 2023 to N991.81 billion by June 2025. Northern states saw remarkable gains, with Gombe’s allocation rising 272.35% to N24.91 billion and Kaduna’s by 251.84% to N42.01 billion. Regionally, the North Central, North East, and North West recorded allocation increases of 145%, 149%, and 143%, respectively. Bagudu noted that these funds have enabled states to invest in infrastructure and social programs without excessive borrowing.
Major projects under Tinubu’s Renewed Hope Agenda include the Sokoto-Badagry Superhighway, Kano-Maiduguri Road dualisation, and the AKK Gas Pipeline, alongside rail and road developments in Kaduna, Kano, and the FCT. In healthcare, over 1,003 primary healthcare centers have been upgraded nationwide, with 10 medical warehouses in the North. The MAMII program has supported 13.1 million antenatal visits, 4.2 million safe deliveries, and nutritional aid for six million women in the region.
Bagudu addressed concerns about regional imbalances, asserting that Tinubu’s policies ensure equitable project distribution. He highlighted the administration’s commitment to fiscal transparency and inclusive growth, countering claims of neglect from some Northern leaders with data showing significant regional investments. The reforms, Bagudu emphasized, are fostering economic resilience and national unity, aligning with Tinubu’s campaign promises to promote sustainable development across Nigeria.
