FG Announces 30-Day Petrol Discount Through NNPC, Targets Public Transporters
The Federal Government has announced a 30-day discount on petrol sold through stations operated by the Nigerian National Petroleum Company Limited (NNPCL), with priority given to public transport operators nationwide.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing in Abuja on measures being taken to address petrol prices and the rising cost of living.
Oyedele said the arrangement was designed as a margin discount and should not be interpreted as a return to the former blanket petrol subsidy regime.
“We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days in the first instance with priority for public transporters nationwide. So, it’s not a subsidy; the government is just saying we sell to you at cost,” he said.
The minister also disclosed that the Federal Government was negotiating a ceiling of N1,350 per litre on the ex-gantry or landing cost of petrol to reduce sharp fluctuations in pump prices.
Under the proposed arrangement, refiners and importers would absorb any shortfall whenever the cost rises above the agreed ceiling, with the difference recoverable when crude oil prices or the exchange rate become more favourable.
Oyedele said the ceiling would be reviewed monthly, with the figures published to promote transparency.
The government is also implementing other measures aimed at cushioning the impact of higher petrol prices, including increased cash transfers to vulnerable households, subsidised credit for small businesses and consumers, and an accelerated rollout of compressed natural gas (CNG) vehicles.
According to the minister, the Federal Government has already granted a full waiver of taxes and duties on petrol, valued at more than N3.3 trillion for the period up to September 30, 2026.
Oyedele stressed that the measures were not intended to restore a blanket fuel subsidy.
“To be perfectly clear, none of these measures restores a blanket subsidy. To do so would amount to creating longer term harm for a short-term cure. Each measure is designed to reach the people who need help, without putting the wider economy at risk,” he said.
The announcement comes amid variations in petrol pump prices across the country. NNPC’s latest reported price list puts petrol at N1,355 per litre in Lagos and Rivers states, while Abuja is listed at N1,370 per litre.
The Federal Government said the latest measures are intended to provide temporary relief to Nigerians while maintaining the broader fuel market reforms.
