FG admits inflation, insecurity persist despite three years of reforms

The Federal Government on Tuesday acknowledged that inflation and insecurity remain major challenges facing Nigerians, even as it defended the economic reforms introduced by President Bola Tinubu’s administration over the past three years.

Speaking at a Democracy Day press conference in Abuja, Secretary to the Government of the Federation, George Akume, said the government was aware of the hardship caused by its policies but argued that recent economic indicators pointed to improvements in key sectors.

Akume stated that while reforms are being pursued diligently, the government recognises that inflation has been painful, though it is on a downward trend, and that insecurity still threatens lives and livelihoods.

The briefing, attended by Federal Executive Council members, marked 27 years of uninterrupted democratic rule and served as what the SGF described as an accountability exercise midway into the administration’s first term.

Akume cited economic figures, noting that Nigeria’s GDP grew by 4.07 per cent in the fourth quarter of 2025 and 3.89 per cent in the first quarter of 2026. He also highlighted social intervention programmes, including cash transfers, student loans, and consumer credit initiatives.

According to him, over one million students have benefited from the Nigerian Education Loan Fund, with more than N184 billion disbursed for tuition and upkeep. He added that millions of households had been reached through the Renewed Hope Conditional Cash Transfer programme.

The government defended its fiscal reforms, including tax measures signed into law in 2025, arguing that the policies aim to improve revenue generation and strengthen public finance accountability. On anti-corruption, Akume said anti-graft agencies had recovered proceeds of crime and contributed to financing the student loan scheme.

He also linked Nigeria’s removal from the Financial Action Task Force grey list in October 2025 to reforms in anti-money laundering frameworks.

On security, Akume conceded that the challenge remains unresolved and appealed to citizens to support security agencies through intelligence sharing and vigilance, describing security as a collective responsibility.

The SGF also called for national unity amid ethnic and religious divisions, noting the government’s support for interfaith dialogue and the recent approval of a National Values Charter.

In a clear indication of the administration’s political calculations, Akume said the government intended to build on ongoing reforms and seek public endorsement in 2027, adding that the administration is willing to have its record subjected to public scrutiny.

Minister of Information and National Orientation, Mohammed Idris, described Democracy Day as a moment of national reflection, paying tribute to Moshood Abiola and others who fought for democratic rule. He noted that 27 years of uninterrupted democracy is a milestone and an evidence of Nigeria’s resilience.