BREAKING: FG Offers 30-Day Petrol Discount at NNPC Stations
The federal government has announced a 30-day discount on petrol sold at filling stations operated by the Nigerian National Petroleum Company (NNPC) Limited.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure at a press conference in Abuja on Thursday, saying public transport operators would be prioritised under the scheme.
“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 minister stressed that the initiative should not be interpreted as a return to the petrol subsidy regime, saying the government would instead sell the product at cost price.
“It is not a subsidy. Government is saying we will sell to you at cost price,” he said.
The announcement comes as petrol prices average about ₦1,400 per litre, following a significant rise in international crude oil prices.
Oyedele, who earlier defended the removal of the petrol subsidy, said the policy had prevented higher global crude prices from having a more severe impact on Nigerians.
He said crude oil, which traded at about $70 per barrel before the conflict, had risen, while petrol prices increased from about ₦830 per litre to an average of ₦1,400.
“We do not like ₦1,400/litre. It’s expensive. But if the subsidy had not been removed by Mr President, what we’d be dealing with today would be far worse than ₦1,400,” he said.
Oyedele acknowledged that higher fuel prices had increased transport and logistics costs, particularly affecting vulnerable households. He said the 30-day discount would therefore prioritise public transport operators as the government seeks to cushion the impact of current fuel prices without returning to the previous subsidy arrangement.
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