By Sofiat Adenekan-Abdul
The Federal Government has acknowledged that inflation and insecurity remain major challenges facing Nigerians, even as it defended the economic reforms introduced under President Bola Tinubu’s administration.
Secretary to the Government of the Federation (SGF), Senator George Akume, made this known on Tuesday in Abuja during a news briefing marking the 2026 Democracy Day celebration.
“While inflation has been painful for Nigerians, it is on a downward trend. We are also conscious of the fact that insecurity continues to threaten lives and livelihoods,” Akume said.
He noted that the government is not claiming to have solved all challenges, but insisted that ongoing reforms are beginning to show positive results across key sectors.
Akume said the briefing was part of activities marking 27 years of uninterrupted democratic governance in Nigeria and an opportunity to assess the administration’s performance.
Economic Indicators Show Growth – FG
According to him, recent data shows improvement in the economy, including 4.07% GDP growth in Q4 2025 and 3.89% in Q1 2026.
He also highlighted key social intervention programmes such as the Nigerian Education Loan Fund (NELFUND), conditional cash transfers, and consumer credit schemes.
“More than one million students have benefited from the student loan scheme, with over N184 billion disbursed for tuition and upkeep,” he said.
Social Support and Economic Reforms
The SGF said millions of households have benefited from cash transfer programmes under the Renewed Hope agenda, while government-backed credit schemes are expanding access to finance for citizens and businesses.
He added that recent tax reforms signed in 2025 are aimed at improving revenue generation, accountability, and economic stability.
Anti-Corruption and Financial Reforms
Akume also said anti-corruption agencies have recovered proceeds of crime, with recovered funds helping to support programmes such as student loans.
He further noted that Nigeria’s removal from the Financial Action Task Force (FATF) grey list in October 2025 reflects progress in strengthening anti-money laundering and counter-terrorism financing systems.
FG Expresses Confidence in Reforms
Despite ongoing economic and security challenges, the SGF expressed optimism that the reforms will deliver long-term benefits for Nigerians.
