FG Introduces 30-Day Discount on Petrol at NNPC Retail Stations

By Modupe Gbadeyanka

In a bid to lower the cost of transportation for citizens, the Nigerian government has introduced a 30-day petrol price discount policy that will pin the product at N1,350 per litre.

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, at a press briefing in Abuja on Thursday, said this policy is not the return of the controversial subsidy on premium motor spirit (PMS), otherwise known as petrol.

In the past weeks, opposition figures have promised to return the country to the old fuel subsidy regime if elected in the 2027 general elections.

Since assuming office on May 29, 2023, President Bola Tinubu of the All Progressives Congress (APC) ended the subsidy regime, which skyrocketed the cost of living and put Nigerians under economic hardship.

At today’s briefing, Mr Oyedele said under the new arrangement, which would be test-run for a month, consumers would be able to purchase the product at a discount at the retail stations of the Nigerian National Petroleum Company (NNPC) Limited.

“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 clarified.