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BREAKING: ‘Subsidy, Inflation, Reforms’ – SGF Akume Unveils 12 Nuggets Of Progress By Tinubu Gov’t

Published

2 months ago

Feb 6, 2025.

SGF George Akume highlights 12 key achievements of Tinubu’s administration in two years.
He says fuel subsidy removal, tax reforms, and economic policies are yielding results.
Akume urges Nigerians to support Tinubu’s Renewed Hope Agenda for national progress.

The Secretary to the Government of the Federation (SGF), Senator George Akume, has outlined twelve key achievements under President Bola Ahmed Tinubu’s administration.

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EKO HOT BLOG reports that Tinubu, a former Lagos State governor, was declared the winner of the February 2023 presidential election by the Independent National Electoral Commission (INEC) and assumed office on May 29, 2023.

Since then, his administration has introduced several economic policies, some of which have been met with criticism from Nigerians. However, Akume, in a series of posts on his official X handle on Thursday, insisted that the government has made significant progress in less than two years.

According to him, efforts towards economic transformation are already yielding results under President Tinubu. He stated that funds saved from the removal of fuel subsidies are now being redirected to subnational governments for grassroots development.

Akume also emphasized the administration’s commitment to structural reforms, particularly in agriculture, to ensure long-term food security and economic stability. He noted that these efforts would help boost food supply and reduce inflationary pressures, ultimately benefiting all Nigerians.

Below are the 12 key achievements as outlined by the SGF:

“2025 has already started full throttle, and our Renewed Hope Agenda is in full swing. In just under two years, we are seeing tangible progress, as our efforts aimed at economic transformation begin to bear fruit under President @OfficialABAT.”

“We’re working relentlessly to curb inflation and restore credibility to our monetary framework. By transforming the foreign exchange regime, we’re moving from an opaque system of preferential allocations to a more transparent, efficient market mechanism.”
“Fuel Subsidy is now a thing of the past. The benefits of deregulation are becoming clearer as the new petrol marketing regime, based on market forces, strengthens the economy. Money saved is now redirected to the subnational governments for grassroots development.”
“We are making strides with structural reforms, particularly in agriculture, in order to sustain long-term agriculture and food security. This will boost food supply and ease inflationary pressures, which will, in turn, benefit all Nigerians.”
“Our role in Mission 300, the World Bank initiative aimed at providing electricity access to 300 million people, cannot be overstated. Power infrastructure is key for economic growth & industrial expansion and we are poised to electrify all of Nigeria before we leave office.”
“Our focus on fostering a business-friendly environment has never been in doubt. We are attracting sustainable investments and driving private sector-led growth for a stronger economy while improving our Ease Of Doing Business Index.”
“We have implemented fiscal governance reforms, like automating the process of Import Duty Exemption Certificates (IDEC), strengthened our trade and tariff organs, while also harmonizing tax laws in a bill presently before the National Assembly for consideration.”

On the widely debated Tax Reform Bills, Akume added:

“This proposed tax reform bill proposes exempting food, medicine, and essentials from VAT and aims to reduce costs for households. This would benefit 82% of Nigerians, while only 18% of goods would see price hikes, making this bill a win-win for all.”
“In the manufacturing sector, we’re working closely with entrepreneurs and propelling MSME growth to reposition the economy. We launched the FGN Loan Scheme for MSMEs and Manufacturing Enterprises last year, providing much-needed financial support to our entrepreneurs.”
“The Casual Jobs Scheme, launched for job creation within 10 SME clusters (such as fashion, beauty, and artisanry), focuses on empowering the informal sector and creating sustainable employment for this critical segment of society.”
“We have restructured and streamlined our social intervention programs, making them more efficient and prudent, instituting a new management that will drive the various schemes going forward. Monies have also been released so the suspended programs can resume.”
“While security challenges persist, we’ve increased military spending, prioritized police reforms, while we have made significant progress in the fight against insurgency, leveraging the collaborative efforts of the Military and sister agencies.”
“Our Internal Affairs/immigration efforts are also being widely applauded. We launched a Technology Innovation Complex—a data center complete with Visa and Passport Processing—to streamline immigration, enhance security, and attract investors to Nigeria.”

Akume further noted that several additional programs are currently being implemented across various sectors, with more initiatives set to be introduced. Among these is a forthcoming unemployment benefits scheme, which President Tinubu is expected to launch soon to support millions of unemployed youth in the country.

SGF Akume Tinubu’s achievements

The SGF emphasized that Tinubu is committed to delivering substantial economic reforms and translating his promises into actionable strategies to drive long-term change. He urged Nigerians to support the president’s Renewed Hope Agenda for national progress.