The Federal Government yesterday said the economic reforms introduced by the Tinubu Administration were beginning to deliver greater stability, with the next phase focused on translating the gains into jobs, higher incomes and improved living standards.
Secretary to the Government of the Federation (SGF), Senator George Akume, said the administration had entered a consolidation phase in which economic stability would be converted into sustainable growth and shared prosperity.
Akume spoke in Abuja at a world press conference to flag off activities marking Nigeria’s 66th Independence Anniversary on October 1.
The theme of this year’s celebration is: ‘From reforms to stability: Consolidating Nigeria’s renewed hope for shared prosperity.’
According to the SGF, the administration laid the foundation for a stronger economy through structural reforms introduced since 2023 and was now focused on ensuring that their benefits reach ordinary Nigerians.
He said: ‘The task before us today, as leaders and citizens, is consolidation. We must ensure that the gains from reform translate into better opportunities for ordinary Nigerians.
‘Every step is geared towards turning stability into growth, and growth into prosperity for all.’
Akume nnounced that President Tinubu had approved the development of a new National Threat Assessment and a five-year Defence Plan aimed at providing a coherent national security strategy.
Minister of Information and National Orientation, Mohammed Idris, said the country was moving beyond the most difficult phase of economic reforms towards growth, production and shared prosperity.
Idris said the administration inherited significant structural and fiscal challenges in 2023 but chose to confront longstanding economic distortions rather than postpone difficult decisions.
‘Nigerians have borne real costs. Today, however, Nigeria is moving from reform and stabilisation towards growth, production and shared prosperity,’ he said.
According to him, Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent in the corresponding quarter of 2025.
He also cited improvements in the country’s external position, foreign reserves, domestic refining capacity, investment and productive activity.
‘The next phase is to translate these gains into tangible improvements in the lives of Nigerians: more jobs, higher incomes, greater access to education and credit, lower costs and wider economic opportunities,’ Idris said.
He said government interventions in infrastructure, agriculture, education, consumer credit, digital skills, energy and enterprise were designed to promote domestic production and value addition.
‘The principle is simple: Nigeria must increasingly produce what it consumes, process what it extracts, and create opportunities from its abundant human and natural resources,’ he said.
Idris said economic progress must also be anchored on security, justice and the rule of law.
He acknowledged that security challenges remained but said government had increased investment in equipment, intelligence, personnel and inter-agency coordination.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said the reforms were aimed at making deliberate policy choices that would create a larger and more inclusive economy.
‘We are not yet where we want to be. What is important is to identify what are the choices that we need to make so that we can go to where we want to be,’ Bagudu said.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, said improved access to farmlands in areas previously affected by insecurity, alongside support for fertiliser and improved seeds, was contributing to increased agricultural production.
Kyari said about 70 per cent of areas that were previously affected by insecurity in parts of the country had become accessible to farmers.
Reflecting on Nigeria’s 66 years of independence, Akume highlighted the country’s survival of the Civil War and prolonged military rule and its uninterrupted constitutional democracy since 1999.
He said Nigeria’s diversity should be harnessed as a strength and urged citizens to remain united in pursuit of national development.
‘From reforms, we have built stability. From stability, let us now deepen growth and opportunity. And from growth, let us extend shared prosperity to every corner of Nigeria,’ Akume said.