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The Independent Media and Policy Initiative (IMPI) has underscored the significance of President Bola Tinubu's financial waste reduction as an example that state governors should emulate.
They stated that it is a crucial step towards implementing developmental projects effectively for the nation.
The group criticised some state governors for their lack of commitment to the President's initiative to cultivate 500,000 hectares of land across the country.
At a press conference held in Abuja on Monday, the Chairman of the IMPI, Chief Niyi Akinsiju, called upon the President to prioritise the oversight and enforcement of monitoring procedures during the execution of infrastructure projects nationwide.
"This implies that you do not need to wait until you have saved so much to purchase what you desire," Akinsiju said.
This, he emphasised, is crucial to ensure timely completion and adherence to specifications for all projects.
Akinsiju also highlighted the government's advancement of the economy through the launch of the Nigerian Consumer Credit Corporation (CrediCorp), a Consumer Credit Scheme.
He noted that this initiative has the potential to enhance Nigerians' purchasing power, consequently expanding the manufacturing sector's productive capacity.
On why the state governors should emulate the President, the group said, "Our findings indicated that the Tinubu economy saved an average of N1 trillion monthly from the withdrawal of petrol subsidy in June 2023, while the three PDP regimes recorded a monthly loss from petrol subsidy of N1 trillion over a period of 16 years, amounting to a total of N192 trillion.
"Little surprise, therefore, that Nigeria ranks among nations with the worst record of infrastructural deficit in the world."
The IMPI also backed the creation of the Renewed Hope Infrastructure Development Fund (RHIDF) to address the country's infrastructure deficit.
They noted that this initiative marks a new phase in anticipating the advantages of removing petroleum subsidies.