Economy showing signs of recovery – FG

… defends Tinubu’s reforms

By Precious Mark

The Federal Government has defended the economic and social reforms introduced under President Bola Ahmed Tinubu’s administration, insisting that Nigeria is steadily moving toward recovery despite ongoing economic hardship and security concerns across the country.

The position was restated on Tuesday by Senator George Akume, the Secretary to the Government of the Federation (SGF), who addressed a national press conference in Abuja to mark the 2026 Democracy Day celebration.

According to him, the country recorded real GDP growth of 4.07% in the fourth quarter of 2025 and 3.89% in the first quarter of 2026, which he described as signs that the economy is slowly stabilising under the Renewed Hope Agenda.

“We are not saying everything is perfect,” Akume said. “Inflation has been painful, and insecurity is still a major concern, but there are clear indications that things are moving in the right direction.”

He added that the administration remains focused on delivering its mandate, especially as it approaches the 2027 general elections, stressing that government would ultimately seek the confidence of Nigerians again.

Akume used the briefing to highlight some of the administration’s social intervention programmes, including cash transfers that have reached over three million vulnerable households across the country.

He also said nearly one million Nigerians have benefited from various government-backed credit schemes, while the Nigerian Consumer Credit Corporation (CreditCorp) has disbursed about N37 billion in loans, many of them first-time formal borrowers.

On education, the SGF said more than 1.058 million students have accessed support under the Nigerian Education Loan Fund (NELFUND), with over N184 billion released for tuition and upkeep since the scheme began.

He further noted that recovered proceeds of crime have been channelled into public programmes, including over N50 billion directed to support education financing.

On the international front, Akume pointed to Nigeria’s removal from the Financial Action Task Force (FATF) grey list in 2025 as evidence of progress in financial and anti-money laundering reforms.

On security, he said government is investing more in the armed forces and strengthening cooperation with regional partners to address terrorism, banditry and other violent crimes, while urging Nigerians to support security agencies with useful information.

He said Democracy Day remains a reminder of Nigeria’s democratic journey and the responsibility of leaders to improve the lives of citizens, noting that 27 years of uninterrupted democracy was a major achievement worth protecting.