Petrol discount: NNPCL filling stations’ fuel pump price update

Petrol prices in Nigerian filling stations have remained unchanged at N1,370 per litre despite the Federal Government's proposal to discount the price to N1,350 per litre. A DAILY POST market survey revealed that NNPCL retail outlets in Abuja and surrounding areas are selling petrol at a fixed rate of N1,370 per litre. On Thursday, Finance Minister Taiwo Oyedele announced a proposal to benchmark the petrol price at N1,350 per litre for a period of 30 days.

The discount of N20 from the current N1,370 per litre does not qualify as a fuel subsidy. President Bola Tinubu's administration and NNPCL both endorsed Oyedele's stance on the proposed discount. However, opposition figures, such as Atiku Abubakar of the African Democratic Congress (ADC), have rejected the 30-day fuel discount plan, describing it as a desperate measure and a political gimmick, or as a return to fuel subsidies disguised as a discount.

Despite the political responses, petroleum product marketers and retailers have expressed support for the initiative, urging the Federal Government to extend the N1,350 per litre price to additional filling stations for better coverage. PETROAN and IPMAN have called upon the government to extend the proposed N1,350 per litre fuel price to other filling stations.