Akume: Tinubu's Reforms Vital for Nigeria's Economic Stability

During the 66th Independence Anniversary Lecture in Abuja, Sen. George Akume, the Secretary to the Government of the Federation, emphasized the necessity of reforms initiated by President Bola Ahmed Tinubu's administration since 2023 to avert Nigeria's economic collapse. Akume noted that these reforms, including the removal of the petrol subsidy, unification of the foreign exchange market, and fiscal reforms, were difficult but essential for restoring economic stability.

He cited World Bank data showing a 4.2% growth in Nigeria's real Gross Domestic Product in the first half of 2026, compared to 3.9% the previous year. Akume acknowledged the ongoing challenge of translating economic growth into job creation and improved incomes for Nigerians.

He also mentioned advancements in infrastructure, including major road, rail, and port projects, and improvements in the power sector through debt clearance and increased investment. Akume asserted the government's commitment to not revert to the previous petroleum subsidy regime.