The Secretary to the Government of the Federation, Senator George Akume, has highlighted the positive impact of President Bola Ahmed Tinubu's reforms since 2023. Speaking at the 66th Independence Anniversary Lecture in Abuja, Akume emphasized that the bold decisions were necessary to prevent Nigeria's imminent collapse. He noted that despite facing numerous challenges, including civil war and decades of military rule, Nigerians remain committed to the country's progress.
Akume discussed the administration's economic reforms, including the removal of petrol subsidy, unification of the foreign-exchange market, and tax reforms. These decisions, though difficult, have started to yield results. According to the World Bank, Nigeria's real GDP grew by 4.2% in the first half of 2026, up from 3.9% the previous year. This growth is attributed to expanded business activity.
The SGF highlighted massive infrastructure investments as evidence of progress. Over the past three and a half years, Nigeria has witnessed significant investments in infrastructure, improving connectivity. Projects such as the Lagos–Calabar Coastal Highway, Abuja-Kano highway, East-West Road, rail modernisation, and port reforms are expected to boost trade routes and the economy.
The government is also addressing power and transport costs. Akume mentioned that the power sector's problems have been tackled by clearing legacy debts, increasing investment, and improving transmission and billing. Additionally, Nigeria is harnessing its abundant natural gas, with over 120,000 vehicles converted to Compressed Natural Gas and more than 400 conversion centres and 90 fuelling stations nationwide.
Furthermore, the administration is expanding mortgage finance to boost housing and job creation. Akume expressed optimism that the current growth will translate into jobs and higher incomes for all Nigerians. The government's efforts aim to ensure that the benefits of economic growth are shared equitably among the population.
Akume reflected on Nigeria's 66-year journey since independence, noting that the country has faced numerous trials but has consistently demonstrated resilience. He emphasized that the government's reforms have begun to yield positive results, and there is a strong belief in the Nigerian project.
The SGF's remarks underscore the administration's commitment to addressing Nigeria's challenges and fostering growth. With continued implementation of these reforms, the government aims to build a more stable and prosperous future for its citizens. Key initiatives will focus on sustaining economic growth, improving infrastructure, and enhancing security.
Key points
- The administration's economic reforms have led to a 4.2% GDP growth in the first half of 2026.
- Massive infrastructure investments have improved connectivity and are expected to boost trade routes and the economy.
- The government has made significant progress in the power sector, including clearing legacy debts and increasing investment.
