Nigeria's Minister of Budget and Economic Planning, Abubakar Bagudu, has announced that approximately 10 million Nigerians are expected to benefit from the federal government's ongoing poverty reduction initiatives. The disclosure was made during a weekend meeting with members of the National Councillors' Forum of Nigeria (NCFN), a body representing 8,809 councillors across local government areas nationwide, as reported by The Sun.
Recognition from Councillors' Forum
During the visit, the forum conferred on the minister the title of Grand Patron, citing his contributions to economic planning and national development. In a letter dated April 23, 2026, signed by its president, Abdulrazak Sama'ila, the forum described Bagudu as a committed public servant driving inclusive development. The group stated that the recognition reflects his role in strengthening governance at the grassroots level and expressed readiness to collaborate more closely with the ministry.
Renewed Focus on Ward-Level Development
Responding, Bagudu said the federal government is prioritising policies that place local communities at the centre of economic planning under the administration of Bola Tinubu. He highlighted the Renewed Hope Ward Development Programme as a key initiative aimed at boosting economic activity across all 8,809 wards in the country. According to the minister, the programme seeks to identify dominant economic activities within each ward and provide targeted support tailored to local needs.
Bagudu explained that the initiative is projected to directly and indirectly benefit about 10 million Nigerians. He noted that the programme forms part of broader efforts to reduce poverty, expand economic opportunities, and improve livelihoods, particularly at the grassroots level.
Call for Collaboration and Support
The minister also commended councillors for backing the federal government's reform agenda, noting that their role is critical in ensuring policies translate into tangible outcomes at the community level. He stressed that sustained collaboration with grassroots leaders would be essential to achieving inclusive growth and strengthening governance structures nationwide.
The Renewed Hope Ward Development Programme targets all 8,809 wards nationwide, with the government emphasising collaboration with grassroots leaders to achieve inclusive growth. This initiative is expected to stimulate economic activity by identifying dominant commercial endeavours in each ward and providing targeted support where it is most needed.
Broader Economic Context
In related news, the International Monetary Fund (IMF) has cautioned that Nigerians may face increased economic hardship in the near future, citing rising food and transportation costs amid ongoing global uncertainties. According to the Fund, these pressures are already affecting household incomes, even as higher crude oil prices offer prospects for improved government revenue. Crude oil prices above $113 per barrel could boost Nigeria's revenue beyond budget projections, but experts warn that oil windfalls may not translate to economic relief without disciplined fiscal management.
