Breaking: ‘Fuel Subsidy, Economy, Reforms’ – Akume Breaks Down Tinubu’s 12 Key Moves

Under President Bola Ahmed Tinubu’s administration, Senator George Akume, the Secretary to the Government of the Federation (SGF), has listed twelve noteworthy advancements.
In February 2023, Tinubu, who was previously the governor of Lagos State, was proclaimed the victor of the presidential election by the Independent National Electoral Commission (INEC).
Tinubu took the oath of office on May 29, 2023, and became the president of Nigeria.
A number of Nigerians have expressed disappointment over the economic policies that the country’s leader has introduced since taking office.

However, Akume pointed out in a series of posts on Thursday on his official X handle that the current administration had made noticeable progress in less than two years.

Under President Tinubu, he claimed, efforts to change the economy started to pay off.

He pointed out that funds saved by eliminating the Fuel Subsidy are now being sent to subnational governments for development at the local level.

According to Akume, the Tinubu administration is making progress on structural changes, especially in the field of agriculture, to ensure food security and agriculture for the long run.

All Nigerians will gain from this, he said, as it will increase the food supply and reduce inflationary pressures.

The 12 Nuggets of Progress that the SGF released are listed below.
“2025 is already well underway, and we are fully committed to our Renewed Hope Agenda. In less than two years, we are witnessing observable advancements as President @OfficialABAT’s initiatives to bring about economic reform start to pay off.

1. To reduce inflation and rebuild the credibility of our monetary system, we are working tirelessly. We are changing the foreign exchange regime to a more transparent and effective market mechanism from an opaque system of preferential allocations.

2. The Fuel Subsidy is no longer available. As the new, market-driven gasoline marketing system boosts the economy, the advantages of deregulation become more apparent. The savings are currently used for grassroots development by the subnational administrations.

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3. To maintain agriculture and food security for the long term, we are making progress with structural reforms, especially in the agricultural sector. In turn, this will help all Nigerians by increasing the supply of food and reducing inflationary pressures.

4. The importance of our contribution to Mission 300, the World Bank project that aims to give 300 million people access to power, cannot be emphasized. We are on track to electrify the entirety of Nigeria before we leave office, as power infrastructure is essential for both industrial and economic growth.

5. We have always prioritized creating a business-friendly atmosphere. Our Ease of Doing Business Index is rising as we draw in sustainable investments and spur growth led by the private sector for a more robust economy.

More information soon.