The federal government has announced a 30-day discount on petrol dispensed by the Nigerian National Petroleum Company Limited (NNPCL), prioritising public transport operators
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday, October 8, during a press briefing on fuel prices and the subsidy question.
Oyedele said the measure would run for 30 days and was designed to relieve public transport operators amid rising petrol prices and their impact on transport costs.
“We are offering a discount on petrol dispensed by NNPC for the next 30 days in the first instance, with priority for public transport operators nationwide,” he said.
The minister stressed that the initiative should not be interpreted as a return to the petrol subsidy regime.
“It is not a subsidy. Government is saying we will sell to you at cost price,” Oyedele said.
The announcement comes as petrol prices average about ₦1,400 per litre, following a significant rise in international crude oil prices.
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