Reform gains must translate to better living conditions – Akume

Federal authorities are committed to harnessing the economic reform efforts of President Bola Ahmed Tinubu's administration and ensuring these benefits result in enhanced living standards and expanded opportunities for ordinary Nigerians, according to Senator George Akume, Secretary to the Government of the Federation. The Secretary made this assertion at a World Press Conference marking Nigeria's 66th Independence Anniversary, themed "From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity."

The reforms, which include the elimination of fuel subsidies and the alignment of foreign exchange regulations, were intended to restore fiscal equilibrium, bolster the economy, and provide a solid base for enduring development. Akume emphasized that the government prioritizes turning reform gains into practical advantages for the common populace, citing initiatives such as infrastructure development, agriculture, education, healthcare, and social welfare protection.

He highlighted the necessity of infrastructure projects, such as the enhancement of roads, railways, airports, seaports, electricity, and digital connectivity, to minimize business expenses, facilitate farmers' market access, and spur private-sector expansion. Minister of Information and National Orientation, Mohammed Idris, stated that Nigeria is transitioning from the challenging phase of reforms and stabilisation to an era of growth, production, and shared prosperity, citing a 4.43% growth rate in real Gross Domestic Product for the second quarter of 2026, up from 4.23% in the same period of the previous year.

The Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, noted that the reforms necessitate deliberate policy decisions to establish a more extensive and inclusive economy.