The Federal Government has announced a 30-day petrol discount at NNPC stations to ease the pressure of rising fuel prices. The scheme will give priority to public transport operators nationwide. Finance Minister Taiwo Oyedele announced the plan during a press briefing in Abuja on Thursday. He said the initiative would help Nigerians without bringing back the petrol subsidy.
Oyedele explained that the government would offer a margin discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPC).
“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,” he said.
He added that the government would sell petrol at cost under the arrangement. Meanwhile, the government is negotiating a petrol price ceiling of N1,350 per litre at the ex-gantry or landing stage. Under the proposal, refiners and importers would absorb extra costs when prices exceed the ceiling. They could recover those costs when crude oil prices or exchange rates improve.
Oyedele said officials would review the ceiling monthly and publish the figures. The government also plans cash transfers for vulnerable households, cheaper credit for small businesses and consumers, and wider access to compressed natural gas vehicles.
Oyedele also disclosed that the government had granted a full waiver of taxes and duties on petrol. He valued the relief at more than N3.3 trillion for the year up to September 30, 2026. However, he stressed that the measures would not restore a blanket fuel subsidy.
The announcement comes as petrol prices differ across the country. NNPC’s reported prices stand at N1,355 per litre in Lagos and Rivers, while Abuja records N1,370 per litre.
