{
  "id": 11115838,
  "title": "SGF: Nigeria Won’t Revert to Destructive Petroleum Subsidy Regime",
  "url": "https://urgent.news/2026/10/01/sgf-nigeria-wont-revert-to-destructive-petroleum-subsidy-regime",
  "topic": "world",
  "section": "World",
  "published": "2026-10-01T05:07:14.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/01/sgf-nigeria-wont-revert-to-destructive-petroleum-subsidy-regime/"
  },
  "original_language": "en",
  "account": "Senator George Akume, Secretary to the Government of the Federation, has pledged that Nigeria will not revert to the harmful petroleum subsidy system that was sustained by previous administrations. This promise was made at a lecture marking Nigeria's 66th Independence Anniversary in Abuja, under the theme \"Unity and Faith, Peace and Progress.\"\n\nAkume explained that removing the petrol subsidy, unifying the foreign-exchange market, and implementing other fiscal reforms were difficult but necessary decisions made by the current administration to restore stability and save the nation from potential collapse when it took office three years ago. The World Bank reported that Nigeria's real GDP grew by 4.2% in the first half of 2026, up from 3.9% the previous year, indicating progress.\n\nInstead of reintroducing fuel subsidies, the government plans to promote Compressed Natural Gas (CNG) as a cleaner and cheaper alternative for motorists and commuters. Over 120,000 vehicles have been converted to CNG, with more than 400 conversion centers and 90 fueling stations nationwide. CNG buses now provide affordable rides for millions of passengers.\n\nThe SGF emphasized that reliable electricity and affordable transport are crucial for the daily lives of Nigerians. The administration has addressed power sector issues by clearing legacy debts, increasing investment, and improving transmission and billing. Infrastructure development, including major highways and modernization of railways and ports, has been a priority to facilitate trade and mobility.\n\nAkume also highlighted government efforts to boost agriculture and food security by supporting mechanization, irrigation, and access to quality seeds, fertilizers, silos, and local processing. Over 60% of Nigerians, who are under 25 years old and considered the country's greatest asset, are being supported through the expansion of the Education Loan Fund to enable access to university and vocational studies.\n\nAddressing health and social protection, Akume reported that the government is improving primary healthcare centers under the IMPACT initiative and expanding safety nets such as NG-CARES Additional Financing, SOLID, and HOPE programs to provide cash transfers and essential services to vulnerable families.\n\nMinister of Information and National Orientation, Mohammed Idris, echoed Akume's message, reiterating that Nigeria remains a work in progress. He acknowledged that the past three years of reforms were challenging but essential for correcting longstanding structural weaknesses and building a stronger foundation for the future. Idris urged all sectors of society to contribute to the transformation, emphasizing that government cannot achieve these goals alone.",
  "summary": "• Idris: Reforms have laid the groundwork for correcting entrenched structural weaknesses Olawale Ajimotokan in Abuja Secretary to the Government of the Federation, Senator George Akume, has vowed the country",
  "key_points": [
    "Nigeria pledges to abandon petroleum subsidies, says SGF Senator George Akume",
    "Compressed Natural Gas (CNG) promoted as cleaner, cheaper alternative for transport",
    "Government invests in agriculture, education, healthcare to support 60% youth population"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}