The Secretary to the Government of the Federation, Sen. George Akume, has said the far-reaching reforms introduced by President Bola Ahmed Tinubu’s administration since 2023 were necessary to prevent Nigeria from sliding into an economic collapse.
Akume said the measures, though difficult, were beginning to produce positive results and lay the foundation for sustained economic growth and development.
The SGF spoke on Wednesday, September 30, in Abuja at the 66th Independence Anniversary Lecture organised as part of activities marking Nigeria’s Independence Anniversary.
The lecture had the theme, “Unity and Faith, Peace and Progress”.
Reflecting on Nigeria’s 66 years of independence, Akume said the country had endured the civil war, prolonged military rule and other difficult periods, yet continued to survive.
He noted that: “Yet through it all, our faith has sustained us and our people continue to demonstrate a strong belief in the Nigerian project.”
Akume said the Tinubu administration, upon assuming office in 2023, was confronted with economic challenges that required difficult decisions, including the removal of the petrol subsidy and the unification of the foreign exchange market.
“This administration took office in 2023 and immediately took bold decisions needed to save the nation from imminent collapse.
“Such decisions include the removal of the petrol subsidy, unification of the foreign-exchange market, tax and other fiscal reforms, etc.
“These were difficult decisions, but necessary to rebuild stability and we have started enjoying the results,” he said.
He cited economic growth as evidence that the reforms were beginning to have an impact.
“According to the World Bank, 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 before us now is to ensure that growth translates into jobs and higher incomes for all Nigerians.”
The SGF also highlighted infrastructure development, saying significant investments had been made in roads, rail, ports and other critical areas of the economy.
“The country has over the past three and a half years witnessed massive investment in infrastructure and to improvement in connectivity,” he stated.
According to Akume, projects such as the Lagos–Calabar Coastal Highway, Abuja-Kano highway, East-West Road and rail modernisation, alongside port reforms, were expected to improve transportation, trade and economic activity.
He said the government was also expanding mortgage financing to support housing development and employment while addressing challenges in the power and transport sectors.
“We have tackled the power sector’s problems by clearing legacy debts, increasing investment, and improving transmission and billing.
“We are also harnessing Nigeria’s abundant natural gas. Over 120,000 vehicles have been converted to Compressed Natural Gas (CNG), with more than 400 conversion centres and 90 fuelling stations nationwide,” the SGF said.
“This shift is cutting fuel costs for motorists and commuters. CNG buses now carry millions of passengers at fares far below those of petrol buses. We will not return to the ruinous petroleum subsidy regime of the past.”
On food security, Akume said the government remained committed to increasing domestic agricultural production through mechanisation, irrigation, improved seeds, fertiliser, storage facilities and local processing.
He said the administration wanted Nigerians to “eat what we grow,” while strengthening agricultural value chains.
“I am pleased that the World Bank has approved a $500 million credit for the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project.
“This initiative will raise smallholder productivity, strengthen value chains, and improve food and nutrition security.” Akume announced.
The SGF described Nigeria’s youthful population as a major national asset, noting that more than 60 per cent of Nigerians are below 25 years.
“We have expanded the Education Loan Fund so that millions of students can afford university and vocational studies.
“We are strengthening technical and vocational institutes to teach the skills that industry needs. Our young people are not just leaders of tomorrow – they are partners in building Nigeria today.”
READ ALSO: Tinubu Reforms Avert Fiscal Crisis, Boost Reserves — Adedeji
Akume also urged Nigerians in the diaspora to increase investments in the country, saying their contribution goes beyond financial remittances.
According to him, they bring “not just remittances, but ideas, investments and pride.”
On healthcare and social protection, he said the government was equipping thousands of primary healthcare centres through the IMPACT initiative while expanding social intervention programmes, including NG-CARES Additional Financing, SOLID and HOPE.
He said the programmes, supported by the World Bank and federal government funds, were designed to provide cash transfers and essential services to vulnerable households.
Addressing insecurity, Akume commended the armed forces and said the government was strengthening security through improved equipment, intelligence gathering and coordination.
He also pointed to the new National Threat Assessment and five-year Strategic Defence Plan as part of efforts to improve the country’s security architecture.
“Security and welfare of the people is the responsibility of government. Nothing matters more than the safety of our people.
“When communities have opportunities and trust in justice, crime and violence decline. In that sense, development and security go hand in hand,” he stated.
Concluding his address, Akume said the Independence Anniversary Lecture should reinforce the responsibility of leaders to build a country where citizens can prosper.
“We as leaders envision a Nigeria where a young graduate becomes an employer of labour; where a farmer can feed his family and sell surplus at market; where an entrepreneur can turn a small shop into a thriving enterprise; and where every child goes to a good school and sees a doctor when sick.”
“We know the path will not be easy but our goal is clear: shared prosperity for all Nigerians,” he added.