Fuel discount won’t cost government public funds, FG insists
The Federal Government has insisted that the petrol discount by NNPC Retail is not a fuel subsidy and will not be funded with public money. Read More: https://punchng.com/fuel-discount-wont-cost-government-public-funds-fg-insists/
The Nigerian government has clarified that a petrol discount introduced by NNPC Retail Limited is not a return of the petrol subsidy that was abolished in 2023. According to the government, the discount is funded by the retailer's decision to reduce its retail profit margin, rather than through public funds. NNPC Retail Limited purchases petrol at market prices before adding its retail margin.
By reducing its margin, the retailer passes the savings to consumers. The government insists that this discount does not involve spending public money and does not weaken the subsidy regime Nigeria ended in 2023.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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