The Federal Government on Tuesday acknowledged that inflation and insecurity remain serious challenges confronting Nigerians, even as it defended the economic reforms introduced by the administration of President Bola Tinubu over the past three years.
Speaking during a press conference held in Abuja to mark the 2026 Democracy Day celebration, the Secretary to the Government of the Federation, George Akume, admitted that many citizens were experiencing hardship as a result of ongoing reforms but insisted that recent economic indicators showed signs of gradual improvement.
The briefing, attended by members of the Federal Executive Council, formed part of activities commemorating 27 years of uninterrupted democratic governance in Nigeria and served as what the government described as a midterm accountability session for the Tinubu administration.
Addressing journalists and government officials at the event, Akume said the administration was fully aware of the concerns Nigerians had raised over rising living costs, insecurity and economic pressures affecting households and businesses across the country.
“The government, though with all hands on deck, would never claim that every challenge has been solved,” the SGF stated.
“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.”
Akume explained that many of the economic measures introduced by the administration were designed to stabilise the economy, improve public finances and create a stronger foundation for long-term growth, even though the short-term effects had placed pressure on citizens.
Since assuming office, the Tinubu administration has implemented a series of major reforms, including the removal of fuel subsidies, exchange rate adjustments and efforts to restructure public spending.
While government officials have argued that the reforms were necessary to prevent economic collapse and attract investment, critics and labour groups have repeatedly complained about rising inflation, increasing food prices and declining purchasing power among ordinary Nigerians.
The SGF, however, maintained that the reforms were beginning to yield measurable results in some sectors of the economy.
According to him, there had been improvements in revenue generation, investor confidence and macroeconomic stability, adding that the administration remained committed to ensuring that the benefits of the reforms eventually reach Nigerians at the grassroots level.
Akume said the government was also intensifying efforts to address insecurity through improved coordination among security agencies, investment in intelligence gathering and enhanced support for military operations across troubled regions.
He noted that insecurity continued to affect farming activities, transportation and commercial operations in several parts of the country, contributing significantly to inflation and economic hardship.
The SGF stressed that the administration was not ignoring the suffering of citizens and assured Nigerians that measures were being implemented to cushion the impact of ongoing reforms.
He cited various intervention programmes, including student loans, agricultural support initiatives, infrastructure development and targeted social welfare programmes aimed at supporting vulnerable groups.
Akume also urged Nigerians to remain patient and supportive of the government’s policies, arguing that meaningful reforms often require time before their full benefits become visible.
According to him, the administration remained committed to democratic principles, transparency and accountability as it entered the second half of its first term in office.
The Democracy Day briefing also highlighted the country’s democratic journey since the return to civilian rule in 1999, with government officials emphasising the importance of preserving democratic institutions and political stability.
Members of the Federal Executive Council who attended the event reportedly presented updates on activities and projects within their respective ministries, outlining achievements recorded under the current administration.
Political observers say the government’s admission of continuing economic and security challenges reflects growing public concern over living conditions across the country, especially amid persistent inflation and recurring attacks in some regions.
Despite the challenges, the Federal Government insisted that it remained optimistic about Nigeria’s economic outlook and pledged to continue pursuing policies aimed at stabilising the economy and improving national security.
