By Our Reporter
The Federal Government has announced a 30-day discount on petrol sold at Nigerian National Petroleum Company Limited (NNPCL) filling stations nationwide, with public transport operators to receive priority under the arrangement.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing in Abuja on measures being taken by the government to address rising fuel prices and their impact on transportation costs.
Oyedele said the initiative would run for an initial period of 30 days and was designed to provide immediate relief to public transport operators and commuters affected by high petrol prices.
He, however, clarified that the measure should not be regarded as a return to the petrol subsidy regime, saying the government would instead make petrol available at cost through NNPC during the period.
“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,” Oyedele said. “So it’s not a subsidy, the government is just saying we sell to you at cost.”
The minister did not disclose the exact amount of the discount or the new pump price that consumers would pay under the arrangement. The government is expected to provide further details on how the discount will be implemented, particularly for public transport operators.
Oyedele also announced that the government was working on forward sales of crude oil to domestic refineries as crude production increases and previously committed volumes become available. He said the arrangement would help shield domestic fuel prices from fluctuations in the international oil market.
According to him, the government plans to sell crude oil to domestic refiners at $80 per barrel over the next six months, a measure he said would provide greater certainty to refiners, protect government budgets and promote stability in fuel prices.
The latest intervention comes amid continued concerns over the impact of petrol prices on transportation, household expenses and the wider cost of living. The government says the 30-day discount and other measures are intended to cushion consumers while longer-term mechanisms for stabilising fuel prices are developed.
