NNPC clarifies petrol discount, denies return of fuel subsidy
…discount available only at NNPC retail stations ..says discount does not alter deregulated petrol pricing framework State-owned oil firm, the
The Federal Government of Nigeria has introduced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPC), with priority given to public transport operators. Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, revealed this during a press conference in Abuja on Thursday. Oyedele clarified that this measure is not a revival of the petrol subsidy but rather a concession from the government to allow NNPC to sell petrol at its cost price.
"We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days, with priority for public transporters nationwide. So, it’s not a subsidy; the government is just saying we sell to you at cost," Oyedele stated. The announcement follows the fluctuating petrol prices at NNPC stations nationwide. According to the latest NNPC price list, the pump price in Lagos and Rivers is N1,355 per litre, while it is N1,370 per litre in Abuja.
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