The Federal Government has announced a 30-day discount on petrol sold through NNPC Limited stations nationwide, giving public transport operators priority.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this at a press briefing on fuel prices and subsidy-related issues in Abuja today.
Oyedele said the move is *NOT a return to subsidy*:
> “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. So, it’s not a subsidy. The government is just saying we sell to you at cost.”
*Key Points From FG:*
*1. Price Ceiling of N1,350/Litre:* Government introducing price modulation mechanism with *N1,350 per litre ceiling* on ex-gantry / landing cost. When costs rise above the ceiling, refineries and importers will carry the shortfall and recover it later. “Neither a subsidy nor price control,” Oyedele said.
*2. Strategic Fuel Reserve:* FG is investing in a national strategic fuel reserve, from which refined products will be released into the market under clear published rules whenever global supply disruption or hoarding threatens availability.
*3. Crackdown on Hoarding:* NMDPRA is monitoring the market to prevent hoarding, diversion, unjustified margins, and under-dispensing at filling stations.
*4. Why Now:* The Minister acknowledged that households and businesses face higher fuel, transport, and logistics costs, hitting vulnerable Nigerians hardest. But he said fuel availability has remained stable.
> “Availability is the first form of affordability,” Oyedele said.
> “Subsidy does not eliminate the cost of fuel but merely changes who bears the cost and when it is paid. Previous subsidy regimes ultimately imposed significant financial burdens on the country.”
The discount takes effect immediately at all NNPC retail outlets nationwide.
