By Mahmoud
The Bola Tinubu administration has admitted that inflation and insecurity remain major challenges for millions of Nigerians since the 2023 economic reforms. Speaking on Tuesday during a press conference marking 2026 Democracy Day, Secretary to the Government of the Federation George Akume said the government recognizes the burden on citizens. “The government recognises that inflation has been painful, though it is on a downward trend. Government is similarly conscious of the fact that insecurity still threatens lives and livelihoods,” Akume stated.
The admission comes as the reforms introduced since May 2023 – removal of fuel subsidy, unification of exchange rates, and cuts to electricity subsidies – triggered the worst cost-of-living crisis in a generation. Inflation surged past 23% and peaked at 34.80% in December 2024. The IMF also warned that while reforms have strengthened stability and investor confidence, the benefits have yet to reach millions, with poverty levels at 63% and millions facing food insecurity.
On security, Akume acknowledged persistent threats despite government efforts. Data shows attacks and kidnappings persist across regions. Amnesty International reported at least 10,217 people killed in attacks by gunmen in the two years since Tinubu took office. Insecurity has also disrupted farming, with banditry and jihadist attacks forcing farmers off their land and pushing food inflation to 51.76% year-on-year in Benue.
Despite the hardship, the government insists reforms are yielding results. Akume said available economic data indicates the country is “gradually moving in the right direction”. Tinubu has defended the policies as necessary to avoid “runaway inflation, external debt default, and a plunging Naira”. The administration also points to narrowed fiscal deficit, rising foreign reserves, and infrastructure projects as signs of progress.
The SGF’s remarks served as an “accountability exercise” as the administration reaches mid-term. President Tinubu is seeking re-election in 2027, with the APC endorsing him for a second term. Meanwhile, Nigerians continue to grapple with high transport costs, food prices, and safety concerns, while the government promises further interventions to ease the burden. 6594fa90 6594
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