The Federal Government of Nigeria has announced a 30-day discount window on petrol sold at all Nigerian National Petroleum Company Limited (NNPC) retail stations. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the announcement during a press briefing in Abuja. Under this temporary intervention, the government will sell petrol at cost rather than making a profit margin.
Key Details of the Fuel Discount Package
Target Audience: The policy gives strict priority to public transport operators nationwide to help lower the skyrocketing cost of commuting for everyday citizens.
Price Ceilings & Mechanics:
As part of a broader 10-measure relief package, the government is negotiating a ₦1,350 per litre ceiling on the landing or ex-gantry cost of petrol. Refiners and importers are expected to absorb costs above this line and recover them later when market conditions improve