Inflation, insecurity still major challenges despite reforms – FG

The Nigerian Federal Government has openly acknowledged that inflation and insecurity remain significant challenges for its citizens, even as it defends the economic reforms initiated by President Bola Tinubu's administration. Speaking at a press conference marking Democracy Day, the Secretary to the Government of the Federation, George Akume, stated that the government recognizes the hardship caused by its policies but pointed to recent economic indicators suggesting improvements.

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The government, though with all hands on deck, would never claim that every challenge has been solved.

"The government, though with all hands on deck, would never claim that every challenge has been solved," Akume said. He acknowledged that inflation has been "painful" but asserted it is on a "downward trend." Similarly, he recognized that insecurity continues to threaten lives and livelihoods. The briefing, part of activities celebrating 27 years of uninterrupted democratic rule, was described as an accountability exercise midway into the administration's first term.

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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.

Despite public concerns over the cost of living and security, the SGF insisted that the government's reforms are yielding results, citing Nigeria's Gross Domestic Product growth of 4.07 percent in the fourth quarter of 2025 and 3.89 percent in the first quarter of 2026. The administration also highlighted its social intervention programs, including cash transfers and student loans, noting that over one million students have benefited from the Nigerian Education Loan Fund, with substantial funds disbursed for tuition and upkeep.

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The government is similarly conscious of the fact that insecurity still threatens lives and livelihoods.

The government defended its fiscal reforms, including tax measures enacted in 2025, stating they aim to improve revenue generation and public finance accountability. Anti-corruption efforts were also emphasized, with Akume reporting the recovery of crime proceeds and prosecutions. He linked Nigeria's removal from the Financial Action Task Force grey list in October 2025 to improvements in anti-money laundering and counter-terrorism financing frameworks, underscoring that "Accountability in this administration is sacrosanct."

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Evidence shows that the country is moving in the right direction.