BREAKING: ‘Fuel Subsidy, Inflation, Reforms’ – Akume Showcases 12 Wins Under Tinubu Gov’t
Senator George Akume, the Secretary to the Government of the Federation (SGF), has listed twelve accomplishments of the government of President Bola Ahmed Tinubu.
Recall that the Independent National Electoral Commission (INEC) proclaimed Tinubu, a former Lagos State governor, the victor of the February 2023 presidential election.
On May 29, 2023, Tinubu took the oath of office and became President of Nigeria.
Many Nigerians have disapproved of some of the economic plans the country’s leader has announced since taking office.
But in a series of posts on Thursday on his official X handle, Akume pointed out that the current administration had made noticeable strides in less than two years.
He claimed that under President Tinubu, initiatives for economic change started to pay off.
He pointed out that the subnational governments are now receiving the funds saved from the elimination of the Fuel Subsidy for grassroots development.
In order to ensure long-term agriculture and food security, Akume insisted that the Tinubu administration is making progress with structural reforms, especially in the agricultural sector.
He asserts that doing this will increase the availability of food and reduce inflationary pressures, both of which will benefit all Nigerians.
The SGF’s 12 Nuggets of Progress are listed below.
“Our Renewed Hope Agenda is well underway, and 2025 has already gotten underway. Under President @OfficialABAT, we are witnessing observable progress in less than two years as our efforts toward economic change start to pay off.
1. We are making every effort to reduce inflation and rebuild the credibility of our monetary system. We’re switching from an opaque system of preferential allocations to a more transparent and effective market process by changing the foreign exchange regime.
2. The Fuel Subsidy has been discontinued. As the economy grows under the new, market-driven gasoline marketing regime, the advantages of deregulation become more apparent. The subnational governments now receive the saved funds for grassroots development.
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3. In order to maintain long-term agriculture and food security, we are making progress with structural reforms, especially in the agricultural sector. All Nigerians will gain from this since it will increase the supply of food and reduce inflationary pressures.
4. It is impossible to overestimate our contribution to Mission 300, the World Bank project that aims to give 300 million people access to energy. Economic growth and industrial expansion depend on power infrastructure, and we are on track to electrify Nigeria before we leave office.
5. We have always placed a high priority on creating an atmosphere that is conducive to business. In addition to increasing our Ease of Doing Business Index, we are drawing in sustainable investments and promoting growth led by the private sector for a more robust economy.
Details will be added soon.
