The Director General (DG) of the Securities and Exchange Commission(SEC), Dr. Emomotimi Agama says the economic reforms introduced by President Bola Tinubu will significantly stabilise and develop the Nigerian economy.
Dr Agama disclosed this in Kaduna at the Nigerian Defence Academy (NDA) 23rd Convocation Lecture titled “Pathway to Economic Prosperity for a Public Servant in a Deregulated Economy”.
The lecture was part of activities lined up for graduating Cadets of the 72 Regular Course and Postgraduate Students of the military academy.
Dr Agama said President Tinubu has initiated bold and transformative reforms across key sectors to lay a solid foundation for inclusive growth and long-term sustainable development for the country.
He said; “The government has undertaken several significant macro-fiscal reforms, including the removal of fuel subsidies, the unification of exchange rates, and the tightening of monetary policy.”
According to him, through these measures, the country has made notable progress in deregulating key sectors of the economy.
“The bold decision to eliminate Nigeria’s long-standing fuel subsidy programme on May 29, 2023, was more than a fiscal adjustment, it marked a pivotal shift towards a deregulated economy, aimed at reducing fiscal burdens and redirecting public funds to more productive sectors.”
“The move signalled the Tinubu administration’s commitment to market liberalisation, allowing fuel prices to be determined by supply and demand rather than government control,” he explained.
Dr Agama also said; “the government has begun scaling back electricity subsidies by adjusting tariffs, a strategy designed to enhance efficiency and attract private investment into Nigeria’s power sector. “
The SEC Director General said to address rising inflation and support the naira, the Central Bank of Nigeria (CBN) has adopted a tighter monetary policy stance, notably through interest rate hikes
“These measures are part of a broader strategy to stabilise prices, restore investor confidence, and lay the foundation for a more market-oriented and resilient Nigerian economy.
“Another significant step taken by the CBN was the unification of the country’s multiple exchange rate systems, aimed at simplifying foreign exchange transactions and enhancing transparency in the currency market,” he further said.
Dr Agama also spoke on the investment opportunities in the capital market and the need for the cadets to invest to secure their future.
He appreciated the Commandant of NDA, Major General Abdul Ibrahim for inviting him to deliver the convocation lecture, saying “it was a great opportunity to make the cadets financially literate and the value of investment to secure one’s future.”
The SEC Director General advised that while officers and men of the military battle to make the nation secure, it is important that they have a scheme behind them to sustain their families.
The Commandant NDA, Major General Abdul Ibrahim appreciated the SEC official for the incisive lecture.
Ibrahim said the NDA has been providing primary officer training for the Nigerian Armed Forces since 1964, with a focus on producing well-rounded commissioned officers.
According to him, “the academy has adopted the National Universities Commission (NUC) Core Curriculum and Minimum Academic Standard (CCMAS) requirements to ensure quality and competitiveness in its programmes.”
He stressed that NDA provides intensive professional training, including physical fitness, weapons handling, and tactical manoeuvres, to prepare cadets for the national defence and security challenges.
Ibrahim said “the postgraduate students undergo programmes in military science, defence and strategic studies, psychology, technology, and national development, aiming to develop students’ critical thinking and research skills.”
He said the NDA has bilateral partnerships with foreign military academies, providing opportunities for cadets to complete the final year of their training abroad and enhancing regional defence cooperation.