From Reforms to Growth: Nigeria Records 4.2% GDP Rise, Secures $500m World Bank Agric Facility – SGF Akume
The Secretary to the Government of the Federation (SGF), Sen. George Akume, says Nigeria’s real Gross Domestic Product grew by 4.2 percent in the first half of 2026, up from 3.9 percent in the corresponding period of 2025, while disclosing that the World Bank has approved a $500 million facility for agriculture.
Akume, who is also Chairman of the Inter-Ministerial Committee on Nigeria’s 66th Independence Anniversary, stated this on Tuesday in Abuja at the Anniversary Lecture with the theme “Unity and Faith, Peace and Progress,” held at the Banquet Hall, State House, Abuja
He said 66 years after independence, Nigeria has survived civil war, decades of military rule and many trials, adding that the nation’s faith has sustained the Nigerian project.
According to him, the present administration took bold decisions upon assumption of office in 2023 to save the nation from imminent collapse. These include removal of petrol subsidy, unification of the foreign exchange market, tax and other fiscal reforms. He noted that while the decisions were difficult, they were necessary to rebuild stability, and results have started showing.
The SGF said the country has witnessed massive investment in infrastructure and connectivity in the last three and a half years. He listed the Lagos-Calabar Coastal Highway, Abuja-Kano highway and East-West Road as signature projects designed to connect cities and rural communities.
He noted that the projects will enable farmers to reach markets and ease movement of goods. He added that rail and ports are being modernised, while real estate is receiving a boost through expansion of mortgage finance to enable Nigerians own homes.
On power and transport, the SGF disclosed that government has tackled power sector problems by clearing legacy debts, increasing investment and improving transmission and billing, while harnessing natural gas.
He explained that over 120,000 vehicles have been converted to Compressed Natural Gas (CNG) so far, with more than 400 conversion centres and 90 fuelling stations nationwide. He said CNG buses are conveying millions of passengers at fares far below petrol buses.
“We will not return to the ruinous petroleum subsidy regime of the past because the government will accelerate these cleaner, cheaper alternatives,” Akume said.
On agriculture and food security, he added that the country is blessed with fertile land and government is supporting mechanization, irrigation, quality seeds and fertilizer, stressing that government is also building silos and promoting local processing.
He announced that the World Bank has approved a $500 million credit for the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project. The project is to raise smallholder productivity, strengthen value chains and improve food and nutrition security.
The SGF described Nigerian youth, who constitute over 60 percent of the population, as the nation’s greatest asset. He highlighted that government has expanded the Education Loan Fund for university and vocational studies and strengthened technical institutes.
He added that government has partnered with the private sector on apprenticeships, coding bootcamps and entrepreneurship programmes. He called on Nigerians in the diaspora to contribute ideas, investments and expertise to national development.
On healthcare, Akume said government is equipping thousands of primary healthcare clinics and training staff under the IMPACT initiative. This is to bring immunization and maternal and child care closer to the people, while expanding school education and nutrition programmes.
He added that social safety nets have been expanded through NG-CARES Additional Financing, SOLID and HOPE programmes. The programmes, backed by World Bank and federal funds, provide cash transfers to vulnerable families.
The SGF stated further that security and welfare of the people remain the primary responsibility of government. He saluted soldiers, police and security personnel for their sacrifices.
He highlighted that government is providing better equipment, intelligence and coordination, and has launched a new National Threat Assessment and a five-year Strategic Defence Plan. He noted that development and security go hand in hand, as communities with opportunities and trust in justice record lower crime.
Akume said the anniversary lecture should serve as a stimulus for self-renewal and a call to duty for all Nigerians. He called for building a country where graduates become employers, farmers feed their families and sell surplus, and every child accesses good school and healthcare.
The Minister of Information and National Orientation, Alhaji Mohammed Idris, who also spoke at the lecture, stated that this year’s anniversary theme is “From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity.”
According to him, the reforms of the past three years have demanded sacrifice and patience but have begun correcting longstanding structural weaknesses.
Idris noted encouraging signs, including 4.43 percent growth recorded in Q2 2026, expanding domestic refining capacity, return of investment to critical sectors and progress on major infrastructure projects.
He urged the media, particularly as the country approaches another electoral cycle, to promote informed public discourse anchored on facts, verification and national cohesion.
