The Federal Government has announced a 30-day discount on petrol sold through the Nigerian National Petroleum Company Limited (NNPCL), in a fresh intervention aimed at easing the pressure of rising fuel and transportation costs on Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the measure on Thursday during a briefing in Abuja on the government’s response to the recent pressure on petrol prices.
According to Oyedele, the discount will initially run for 30 days, with public transport operators given priority under the arrangement.
The minister stressed that the intervention should not be interpreted as a return to the petrol subsidy regime.
He explained that the government’s plan is to allow petrol dispensed by NNPCL to be sold at cost during the period, describing the arrangement as a temporary discount rather than a 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,” Oyedele said.
The announcement comes amid renewed concerns over the impact of petrol prices on transportation, household expenses and the operating costs of businesses across the country.
The government is also proposing a ₦1,350-per-litre ceiling on petrol’s ex-gantry or landing cost, as part of measures designed to reduce the effect of fluctuations in global crude prices and exchange rates on domestic fuel prices.
Oyedele said the government was seeking a mechanism that would prevent pump prices from responding sharply to every movement in international oil prices and foreign exchange.
The 30-day discount is therefore expected to provide short-term relief, particularly for commercial transport operators whose fuel costs directly influence fares paid by commuters.
However, the Federal Government has yet to publicly disclose the exact amount of the discount per litre or the detailed mechanism through which public transporters will access the benefit.
The development comes barely a day after the expiration of NNPCL’s separate ₦66 petrol discount promotion, which ran from October 1 to October 7 through the NNPC Fuel App.
For many Nigerians, the immediate question will be whether the latest intervention will translate into lower transport fares and reduced pressure on household budgets.
The Federal Government has maintained that its broader response to rising energy costs will include measures aimed at expanding cheaper alternatives such as compressed natural gas (CNG), while cushioning vulnerable households and small businesses.
Polity Nigeria will continue to monitor the implementation of the 30-day discount and its impact on petrol prices and transportation costs nationwide.
