FG defends reforms, says economy showing signs of recovery

…says inflation, insecurity persist, but Nigeria Is moving in the right direction

…highlights N184bn student loans, N37bn consumer credit, 4.07% GDP growth

…8,000 revitalised health centres, 3 million households supported

The Federal Government has acknowledged that inflation and insecurity continue to pose significant challenges to Nigerians, but insisted that the country is moving in the right direction as economic reforms introduced by the President Bola Ahmed Tinubu administration begin to yield positive results.

George Akume, Secretary to the Government of the Federation (SGF), stated this on Tuesday in Abuja during a national press conference to mark the 2026 Democracy Day celebrations and the third anniversary of the Renewed Hope administration, saying available economic indicators point to growing confidence, increased market activity and improved productive exchange across the economy.

According to Akume, the administration remains conscious of the impact of inflation and insecurity on citizens but noted that the reforms introduced since 2023 are beginning to yield positive results.

“The message from the government today is straightforward. This administration wishes to let us all recognise the fact that Nigeria is a huge, viable project and it is work- in-progress. The government, though with all hands on deck, would never claim that every challenge has been solved. While we pursue various reforms diligently, with purpose and with compassion, the government recognises that inflation has been painful, though it is on a downward trend.

“The government is similarly conscious of the fact that insecurity still threatens lives and livelihoods, and that the effects of reform do not land evenly or yield desired results immediately. The President shares in and feels your pains and his efforts are already bearing results,” he said.

He added that evidence shows Nigeria is moving from fragility toward firmer footing, from stop-gap actions toward system reform, and from scattered interventions toward a more connected programme of delivery.

Citing figures from the National Bureau of Statistics (NBS), the SGF said Nigeria’s Gross Domestic Product (GDP) grew by 4.07 per cent in the fourth quarter of 2025 and 3.89 per cent in the first quarter of 2026, indicating sustained economic expansion.

Akume also highlighted the administration’s fiscal reforms, including the signing of four major tax reform laws in June 2025 aimed at simplifying compliance, improving fairness, and strengthening domestic revenue mobilisation.

On social protection, he said the Renewed Hope Conditional Cash Transfer Programme had reached over three million vulnerable households out of its target of 15 million households. He added that close to one million Nigerians across the country’s 774 local government areas had benefited from the Presidential Conditional Grant Scheme and CreditCorp initiatives since 2025.

According to him, the Nigerian Consumer Credit Corporation (CreditCorp) disbursed about N37 billion in consumer credit in 2025, with more than half of the beneficiaries accessing formal credit for the first time.

The SGF also highlighted achievements in education, noting that the Nigerian Education Loan Fund (NELFUND) has supported more than 1.058 million students since the enactment of the Student Loan Act, with over N184 billion disbursed in loans and upkeep allowances.

“As a matter of fact, the EFCC boosted the NELFUND with over Fifty Billion Naira from recovered funds. As a result of the determination of government, to implement legal, regulatory and institutional reforms in anti-money-laundering and counter-terrorism financing,” he stated

In the health sector, Akume said the government was expanding access to healthcare through the implementation of the National Health Insurance Authority Act and the Basic Health Care Provision Fund, which currently supports more than 8,000 primary healthcare centres nationwide.

He further pointed to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025 as evidence of progress in anti-money laundering and counter-terrorism financing reforms.

While acknowledging that security challenges persist, Akume said the government was increasing investments in the armed forces and security agencies, strengthening regional cooperation, and improving operational capacity to tackle terrorism, banditry, and other threats.

“We continue to confront internal security challenges and the good news is that we are succeeding,” he said

He also called on Nigerians to support security agencies by remaining vigilant and reporting suspicious activities.

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Also speaking at the event, Mohammed Idris, Minister of Information and National Orientation, described the country’s 27 years of uninterrupted democratic rule as a significant milestone and an opportunity to reflect on the nation’s democratic journey.

He said the Democracy Day celebration coincided with the third anniversary of the Renewed Hope Administration and provided an avenue to assess achievements, challenges, and the government’s vision for national development.

According to Idris, the administration remains committed to delivering on its promises and building a stronger, more inclusive and prosperous Nigeria.

The minister also paid tribute to the late Chief Moshood Kashimawo Olawale (MKO) Abiola and other pro-democracy activists whose sacrifices contributed to the restoration and sustenance of democratic governance in Nigeria.

Also speaking, Joseph Terlumun Utsev, Minister of Water Resources and Sanitation, said the ministry had expanded access to potable water through the construction and commissioning of major water supply schemes, including the Gombe Regional Water Supply Scheme, the Damaturu Water Supply Project in Yobe State, and water projects in the Federal Capital Territory.

According to him, additional water schemes executed under partnerships with programmes such as PEWASH, SURWASH, and the African Development Bank have benefited more than 451,000 Nigerians, while the Greater Dutse Water Supply Project in Jigawa State is expected to serve over 1.5 million people upon completion.

Utsev said the ministry had also completed and commissioned key dam projects, including the Rafin Yashi Dam in Niger State, the Do’o To’o Ape Dam in Kogi State, and the Amla Dam in Benue State, providing water for irrigation, domestic use, fisheries, and livestock development.

He disclosed that the ministry had increased clean energy generation through the Kashimbila Hydropower Project and other hydropower facilities, which collectively contribute about 110 megawatts to the national grid.

He added that the concessioning of the Kashimbila Hydropower Plant and Agro-Allied Cargo Airport has generated about N7 billion in revenue for the Federal Government.

“We have also combined hydropower generation, that of the Kashimila, the Gurara, Tadigua projects, which are approximately supplying 110 megawatts for clean energy. We have also concessioned the Kashimila Hydropower Plant and Agro-Align Cargo Airport, which has so far generated about 7 billion Naira as revenue to the government,” he said

The minister further noted that rehabilitation works were ongoing at the Oyan Dam in Ogun State, Goronyo Dam in Sokoto State, Ate Dam in Benue State, and Lafia Dam in Nasarawa State, while plans were underway to concession the Dasin Hausa Dam in Adamawa State to enhance flood control, irrigation, water supply, fisheries, and agricultural production.

On his part, Alhaji Idi Mukhtar Maiha, Minister of Livestock Development, outlined steps being taken to modernise livestock production and address herder-farmer conflicts through the development of grazing reserves and ranching infrastructure.

Maiha said the ministry had commenced the development of the Ka’u Grazing Reserve in the Federal Capital Territory as a pilot project, with three boreholes already drilled and a weather station installed to support the resettlement of pastoralists.

He explained that the government was working with the FCT Administration, Miyetti Allah, and other stakeholders to provide water, pasture, and other facilities that would reduce the need for seasonal migration by livestock owners.

“So we are on top of it. We have also had stakeholder engagement with Miyetti Allah and other category leaders within the FCT, and we are still talking with them. The movement is going to be in a phased format,” he noted

According to him, the Federal Government is set to launch a National Ranching Policy aimed at improving livestock productivity, creating jobs, promoting peace in rural communities, and reducing conflicts associated with transhumance across the country.