The Federal Government has announced a 30-day discount on petrol sold through the Nigerian National Petroleum Company Limited (NNPCL), with priority given to public transport operators nationwide.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday, October 8, 2026, during a press briefing in Abuja on fuel prices and the subsidy question.
Oyedele said the arrangement was not a return to fuel subsidy, explaining that the government would instead make petrol available to NNPC customers at cost for the initial 30-day 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. So, it’s not a subsidy; government is just saying we sell to you at cost,” he said.
According to the minister, the measure is aimed at moderating transportation costs by ensuring that commercial buses, taxis and other public transport operators have access to petrol at reduced prices.
The announcement comes amid continued concerns over the high cost of living, with elevated petrol prices contributing to increases in transportation, food and other essential expenses.
The government has maintained that it does not intend to return to the blanket petrol subsidy regime that existed before its removal in 2023. Instead, the latest intervention is being presented as a targeted and temporary measure intended to provide relief while broader reforms continue.
The 30-day petrol discount is part of a wider package of measures outlined by the Ministry of Finance to address rising living costs.
Other measures include increased cash transfers to vulnerable households, subsidised credit for small businesses, advance crude oil sales to local refineries, and a proposed limit of ₦1,350 per litre on the ex-gantry or landing cost of petrol, subject to monthly review.
The government also plans to establish a National Strategic Fuel Reserve, accelerate the rollout of compressed natural gas (CNG), and work with state governments to reduce excessive road charges and taxes that contribute to transportation costs.
Additional measures under consideration include reducing regulatory costs, improving traffic management to cut fuel consumption, lowering logistics expenses and potentially introducing an excess-profits tax on operators accused of exploiting consumers.
The effectiveness of the petrol discount will depend largely on its implementation and whether the reduction in fuel costs is reflected in lower transport fares for commuters.
The government’s announcement follows recent petrol-price interventions by NNPC Retail, including a ₦66-per-litre discount offered through the NNPC Fuel App during the Independence Day period.
The Federal Government has continued to insist that its approach is aimed at providing targeted relief without returning to a universal fuel subsidy.
