Akume says economic reforms are producing early gains as Nigeria turns 66
Secretary to the Government of the Federation George Akume has said reforms introduced since 2023 are beginning to restore economic stability, citing World Bank-reported real GDP growth of 4.2 per cent in the first half of 2026. He also pointed to government programmes in infrastructure, energy, agriculture and social protection.
The Federal Government says reforms introduced by President Bola Tinubu’s administration since 2023 are beginning to produce results, citing real economic growth of 4.2 per cent in the first half of 2026. Secretary to the Government of the Federation George Akume made the claim in Abuja on Wednesday during a lecture marking Nigeria’s 66th independence anniversary. He said the removal of the petrol subsidy, foreign-exchange reforms and fiscal changes were difficult decisions that had been necessary to prevent further economic deterioration.
Citing World Bank data, Akume said real GDP growth rose from 3.9 per cent in the corresponding period of the previous year to 4.2 per cent in the first half of 2026. He said the government’s immediate task was to ensure that growth generated jobs and higher incomes for Nigerians. The SGF said the administration had also made progress in youth employment, education, health, security, infrastructure and agriculture.
He referred to an expanded Education Loan Fund, stronger technical and vocational institutions, the equipping of primary healthcare centres under the IMPACT initiative and social-protection programmes supported by World Bank and federal funds. On security, Akume said equipment, intelligence and coordination were being improved through a new National Threat Assessment and a five-year Strategic Defence Plan. He also cited investment in major roads, rail modernisation and port reforms.
In the power sector, he said legacy debts had been cleared and that investment in transmission and billing had increased. Akume said more than 120,000 vehicles had been converted to compressed natural gas, with more than 400 conversion centres and 90 fuelling stations. On agriculture, he announced a $500m World Bank credit for the Nigeria Sustainable Agricultural Value-Chains for Growth project, intended to improve smallholder productivity, value chains and food security.
He urged citizens and leaders to support the reform programme while acknowledging that its path would not be easy.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.