The Federal Government has introduced a 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPC) stations, with public transport operators given priority across the country.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, announced the plan on Thursday during a briefing on petrol prices and subsidy-related issues in Abuja.
He explained that the discount would apply at NNPC stations and was not a return to fuel subsidy.
“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 government is also negotiating a price ceiling of N1,350 per litre for petrol at the ex-gantry or landing stage to limit sudden price changes.
Under the plan, refiners and importers would cover any extra costs when prices rise above the limit and recover the money when crude oil prices or exchange rates improve.
Oyedele said the ceiling would be reviewed every month, with the figures made public.
Other steps include higher cash transfers to vulnerable households, cheaper loans for small businesses and consumers, and faster adoption of compressed natural gas vehicles.
He added that the government had fully waived taxes and duties on petrol, worth more than N3.3tn for the year up to September 30, 2026.
“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.
NNPC’s latest reported prices stand at N1,355 per litre in Lagos and Rivers, while Abuja is listed at N1,370 per litre.
