FG Offers 30-Day Petrol Discount at NNPC Stations, Targets Public Transporters
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele disclosed this on Thursday during a press briefing in Abuja on recent developments in petrol pricing and government interventions.
According to the minister, the measure is a temporary margin discount designed to cushion the impact of rising petrol prices on Nigerians and does not amount to a return to the former fuel subsidy regime.
He explained that the government would, in the first instance, offer the discount for 30 days, with priority given to public transport operators nationwide.
“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 Federal Government is also negotiating a N1,350 per litre ceiling on the ex-gantry or landing cost of petrol as part of efforts to minimise sharp fluctuations in pump prices.
Under the proposed framework, refiners and importers would absorb any shortfall when their costs rise above the agreed ceiling, while they would be allowed to recover the difference when crude oil prices or foreign exchange conditions improve.
The minister said the ceiling would be reviewed monthly, with the figures made public to promote transparency and accountability.
Beyond the petrol discount, the government is implementing other measures aimed at reducing the impact of high energy and living costs on households and businesses.
These include increased cash transfers to vulnerable Nigerians, subsidised credit for small businesses and consumers, as well as an accelerated rollout of Compressed Natural Gas (CNG) vehicles as an alternative to petrol-powered transportation.
The government also disclosed that it had granted a full waiver of taxes and duties on petrol, which it said was valued at more than N3.3 trillion for the period ending September 30, 2026.
The minister, however, stressed that the latest interventions should not be interpreted as a return to blanket petrol 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 varying petrol prices across the country. NNPC’s latest reported price list puts the pump price at N1,355 per litre in Lagos and Rivers, while Abuja is listed at N1,370 per litre.
The Federal Government said the latest measures were aimed at providing immediate relief to vulnerable Nigerians while maintaining the broader reforms in the downstream petroleum sector.