The Federal Government of Nigeria is urging states to collaborate more closely on capacity-building efforts to maximize the benefits of recent international agreements.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, emphasized this at the 17th Community of Practice (CoP) meeting of Commissioners for Budget and Economic Planning.
Addressing state representatives, Bagudu highlighted the importance of working with local governments to harness available low-risk financing.
“There is a lot of low-risk financing available for states to unlock their economic potential,” he said, underscoring the potential of partnerships with international allies and development partners.
The CoP meeting, centered on the state of the economy, explored ways states could capitalize on new bilateral agreements Nigeria has recently forged.
Bagudu explained that these partnerships bring unique opportunities to fund regional projects, leverage international expertise, and strengthen Nigeria’s overall economic resilience.
He added that these investments could become critical for states looking to diversify revenue and boost sustainable development.
Bagudu expressed optimism about the future, saying that “leveraging on the resources of partners” can significantly accelerate development at the state level. The meeting aimed to foster dialogue on how states can implement strategic measures and tap into resources aligned with the Federal Government’s economic vision.
