Democracy Day: FG admits hardship, says inflation easing despite security concerns
By Lai Gidado
Amid growing public concern over the rising cost of living and persistent security challenges, the Federal Government has acknowledged that inflation and insecurity continue to weigh heavily on Nigerians, even as it defended the reforms introduced by President Bola Tinubu’s administration.
The Secretary to the Government of the Federation (SGF), Senator George Akume, stated this in Abuja during a press conference marking the 2026 Democracy Day celebrations.
He noted that the government is fully aware of the hardships associated with the ongoing reforms, while emphasising that recent economic indicators point to improvements across key sectors of the economy.
Acknowledging the difficulties being experienced by many Nigerians, Akume said:
“The government, though with all hands on deck, would never claim that every challenge has been solved.
“While we pursue various reforms diligently, with purpose and 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.”
The briefing formed part of activities commemorating 27 years of uninterrupted democratic governance in Nigeria and, according to the SGF, served as an accountability exercise for the administration as it reaches the midpoint of its first term.
Addressing public concerns over the rising cost of living and the security situation, Akume maintained that the administration’s reforms were beginning to yield positive results.
He argued that available evidence suggests that the country is moving in the right direction.
He cited Nigeria’s Gross Domestic Product (GDP) growth of 4.07 per cent in the fourth quarter of 2025 and 3.89 per cent in the first quarter of 2026.
He also highlighted the impact of various social intervention programmes, including cash transfers, student loans and consumer credit initiatives introduced since 2023.
According to him, more than one million students have benefited from the Nigerian Education Loan Fund (NELFUND), with over N184 billion disbursed for tuition and upkeep under the scheme.
Akume further disclosed that millions of households had been reached through the Renewed Hope Conditional Cash Transfer Programme, while government-backed credit schemes had expanded access to formal financing for many Nigerians.
The government also defended its fiscal reforms, including tax measures signed into law in 2025, stating that the policies were designed to enhance revenue generation and strengthen accountability in public finance management.
Speaking on the fight against corruption, the SGF said anti-graft agencies had continued to recover proceeds of crime and prosecute offenders.
He added that recovered funds had contributed to financing the student loan scheme.
He assured Nigerians that the Tinubu administration was strengthening the capacity of the armed forces and other security agencies through increased recruitment and improved funding.
He added that the government was also deepening security cooperation with neighbouring countries and international partners.
Akume called on citizens to support security agencies through intelligence sharing and vigilance, stressing that security is a collective responsibility.
The SGF also used the Democracy Day platform to emphasise the need for national unity in the face of ethnic and religious divisions, urging Nigerians to work together in the interest of peace, stability and national development.
