The Federal Government has announced a 30-day petrol discount at filling stations operated by the Nigerian National Petroleum Company Limited (NNPC), with public transport operators expected to receive priority under the initiative.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday during a press briefing in Abuja on rising petrol prices and government interventions to ease the burden on Nigerians.
According to the minister, the initiative will initially run for 30 days and is designed to reduce the cost of petrol sold at NNPC stations without reintroducing the suspended fuel subsidy regime.
Oyedele explained that the government intends to offer petrol at cost through a margin discount arrangement, particularly to support public transport operators and reduce the impact of rising fuel prices on transportation costs.
“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,” the minister said.
He emphasised that the arrangement should not be interpreted as a return to fuel subsidy, but rather as a targeted intervention to provide temporary relief to Nigerians.
FG Proposes N1,350 Petrol Price Ceiling
As part of its broader efforts to stabilise petrol prices, the Federal Government is also negotiating a proposed ceiling of N1,350 per litre on the ex-gantry or landing cost of petrol.
Under the proposed framework, refiners and importers would absorb any shortfall when costs exceed the agreed ceiling. They would subsequently recover the difference when crude oil prices or foreign exchange rates become more favourable.
Oyedele said the proposed ceiling would be reviewed monthly, with the relevant figures published to promote transparency and ensure public accountability.
The government hopes the arrangement will help reduce sudden increases in petrol prices and provide greater predictability for consumers and businesses.
Other Measures to Cushion Rising Fuel Costs
Beyond the petrol discount, the Federal Government is pursuing additional measures aimed at protecting households and businesses from the economic effects of higher fuel prices.
These measures include increased cash transfers to vulnerable households, subsidised credit for small businesses and consumers, and an accelerated rollout of compressed natural gas (CNG) vehicles as an alternative to petrol-powered transportation.
The minister also disclosed that the government had granted a full waiver of taxes and duties on petrol, valued at more than N3.3 trillion for the period ending September 30, 2026.
According to him, the interventions are intended to provide relief to those most affected by rising living costs without creating further pressure on the nation’s finances.
Oyedele maintained that the government would not restore a blanket fuel subsidy, arguing that such a policy could create long-term economic difficulties despite offering temporary relief.
He said the measures were being structured to support vulnerable Nigerians while protecting the wider economy from the potential consequences of a return to universal fuel subsidies.
Petrol Prices Remain High Across Major Cities
The announcement comes amid continued variations in petrol prices at NNPC filling stations across the country.
According to the latest price figures cited in the report, petrol was selling for N1,355 per litre in Lagos and Rivers State, while the price in Abuja stood at N1,370 per litre.
The proposed 30-day discount is expected to provide temporary relief, particularly for public transport operators whose operating expenses have risen alongside fuel prices.
However, the extent of the relief consumers will experience will depend on the implementation of the discount and the terms of the arrangement at participating NNPC stations.
The Federal Government’s latest intervention forms part of its broader response to rising fuel costs and the pressure they continue to place on transportation, household budgets and business operations.
