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The federal government has ruled out any chance of restoring the fuel subsidy regime in Nigeria.
The Secretary to the Government of the Federation, George Akume, who made the position of the government known while speaking during rhe independence lecture on Wednesday, said fuel subsidy was removed by President Bola Tinubu to save Nigeria’s economy from collapse.
Naija News reports that Akume made the declaration while speaking in Abuja at the 66th Independence Anniversary Lecture.
“We will not return to the ruinous petroleum subsidy regime of the past,” Akume said according to a statement by his Special Adviser on Media and Publicity, Yomi Odunuga.
The SGF emphasized that part of the difficult decisions the current administration had to take to save Nigeria’s economy from collapse was the fuel subsidy removal.
He streessed that the actions were difficult but necessary, adding that Nigerians have started enjoying the benefits.
“This administration took office in 2023 and immediately took bold decisions needed to save the nation from imminent collapse. Such decisions include the removal of the petrol subsidy, unification of the foreign-exchange market, tax and other fiscal reforms, etc. These were difficult decisions, but necessary to rebuild stability and we have started enjoying the results,” he said.
Citing reports from the World Bank, Akume said Nigeria’s real Gross Domestic Product (GDP) grew by 4.2 per cent in the first half of 2026, up from 3.9 per cent a year earlier.
“The task before us now is to ensure that growth translates into jobs and higher incomes for all Nigerians,” he said.
The SGF added that the introduction of the Compressed Natural Gas (CNG) has cushioned citizens from the high cost of petrol.
“This shift is cutting fuel costs for motorists and commuters. CNG buses now carry millions of passengers at fares far below those of petrol buses,” he said.
Which own country economics didn’t collapse? The country that keeps on borrowing more than the 8yrs of late Buhari with subsidy and everything
And without a shame you are telling us this just because we are nothing to you.
This government kept cooking lies and lies and big big lies. Nigerians are to be blame for all the corruption and injustice by this government, because they decided to keep quiet and take in whatever they are given, my question is does this government even look into the welfare of the common ordinary Nigerians? They claim to be working for the betterment of the nation, but who and who makes up the nation? Are the citizens feeling the positive impact of the government’s policies and is the works of the government improving the welfare of ordinary Nigerians? The government have ignored the cries of the citizens about hunger and hardship, even the clerics have voiced out about hardship in the country. Yet, nothing urgent have been done to reduce if not eradicate the immense hardship and frustration in the country. BAT should understand that Nigerians will not allow him retake power come 2027 general election. Nigerians will rather have this country in flames than allow APC’s BAT continue in his God forsaken administration.