The Secretary to the Government of the Federation, Sen. George Akume, has stated that the bold reforms undertaken by President Bola Ahmed Tinubu's administration since 2023 were necessary to save Nigeria from imminent collapse. Akume made this statement on Wednesday in Abuja at the 66th Independence Anniversary Lecture, part of activities marking Nigeria's Independence Anniversary under the theme "Unity and Faith, Peace and Progress".
Akume noted that 66 years after independence, Nigeria has survived civil war, decades of military rule, and many trials, yet through it all, the country's faith has sustained it, and its people continue to demonstrate a strong belief in the Nigerian project. He emphasized that the administration took difficult but necessary decisions at inception, including the removal of the petrol subsidy, unification of the foreign-exchange market, tax, and other fiscal reforms.
According to Akume, these decisions have started yielding positive results, citing World Bank data that Nigeria's real GDP grew by 4.2% in the first half of 2026, up from 3.9% a year earlier, as business activity expanded. The task now is to ensure that growth translates into jobs and higher incomes for all Nigerians. Akume also highlighted massive infrastructure investments as evidence of progress, including projects like the Lagos–Calabar Coastal Highway, the Abuja-Kano highway, and the East-West Road.
The SGF outlined further investments in infrastructure, including rail modernization and port reforms, which would dramatically improve trade routes and the economy. Additionally, the government is expanding mortgage finance to boost housing and jobs, and tackling power and transport costs. Akume mentioned that the power sector's problems have been addressed by clearing legacy debts, increasing investment, and improving transmission and billing.
Akume announced that over 120,000 vehicles have been converted to Compressed Natural Gas (CNG), with more than 400 conversion centers and 90 fueling stations nationwide. This shift is cutting fuel costs for motorists and commuters, with CNG buses carrying millions of passengers at fares far below those of petrol buses. The government will not return to the ruinous petroleum subsidy regime of the past.
On agriculture and food security, Akume reaffirmed the government's determination that Nigerians "eat what we grow," supporting mechanization, irrigation, quality seeds, fertilizer, silos, and local processing. The World Bank has approved a $500 million credit for the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project, which will raise smallholder productivity, strengthen value chains, and improve food and nutrition security.
Akume addressed youth empowerment, stating that over 60% of Nigerians are under 25 and describing them as Nigeria's greatest asset. The government has expanded the Education Loan Fund so that millions of students can afford university and vocational studies. Akume also called on the diaspora to invest homewards, noting they bring "not just remittances, but ideas, investments, and pride."
Key points
- The Nigerian government is implementing various initiatives to support vulnerable families, including equipping primary healthcare centers and expanding safety nets.
- President Tinubu's administration has undertaken bold reforms, including the removal of the petrol subsidy and unification of the foreign-exchange market.
- The government is investing in infrastructure, including roads, rail, and ports, to improve trade routes and the economy.
