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BREAKING: FG Announces 30-Day Petrol Discount, Gives NNPCL Fresh Directive

supply stabilization

BREAKING: FG Announces 30-Day Petrol Discount, Gives NNPCL Fresh Directive

Public transporters to get priority as government moves to cushion impact of high fuel prices

The Federal Government has announced a 30-day discount on petrol sold through the Nigerian National Petroleum Company Limited (NNPCL), with public transport operators to receive priority under the arrangement.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday, October 8, 2026, during a press briefing in Abuja on petrol prices and subsidy-related issues.

Oyedele said the intervention should not be interpreted as a return to petrol subsidy, explaining that the government would instead allow petrol to be sold at cost 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.”

The minister added: “It’s not a subsidy; government is just saying we sell to you at cost.”

FG targets N1,350 petrol landing-cost ceiling

The announcement forms part of a broader package of measures being introduced by the Federal Government to moderate the impact of rising petrol and transportation costs.

Oyedele also disclosed that the government was negotiating a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol.

According to him, the proposed price-modulation arrangement is intended to prevent pump prices from immediately following every fluctuation in international crude oil prices and foreign exchange rates.

Public transporters given priority

Under the 30-day arrangement, public transport operators nationwide are expected to receive priority in accessing the discounted petrol.

The measure is significant because fuel costs have a direct impact on transport fares and, consequently, the prices of food and other essential commodities.

The government is therefore seeking to provide immediate relief while working on longer-term measures aimed at reducing volatility in petrol prices.

No exact discount amount announced yet

However, the Federal Government has not, as of the announcement, disclosed the exact amount of the 30-day discount or stated a new uniform pump price that all NNPCL stations will charge.

Vanguard reported that NNPCL had separately announced a ₦66-per-litre discount for customers using the NNPC Fuel App at its stations nationwide.

The latest announcement appears to be a broader government intervention, but details of its implementation, including how eligible public transporters will access the discount, are still expected.

FG unveils wider relief measures

Oyedele also disclosed other measures aimed at easing the pressure of high fuel and transportation costs.

These include efforts to moderate taxes and levies that increase logistics costs, forward crude sales to domestic refiners, increased funding for cash transfers to vulnerable households and subsidised credit for small businesses and consumers.

The government is also working with state governments to accelerate the rollout of compressed natural gas (CNG) as an alternative fuel for transportation.

What Nigerians should know

The latest announcement does not amount to a formal restoration of the petrol subsidy, according to the Finance Minister.

Rather, the government says it intends to temporarily sell petrol through NNPCL at cost, with public transporters prioritised, while pursuing mechanisms to make fuel prices less vulnerable to sudden international market and exchange-rate movements.

The 30-day period is expected to provide some relief to transport operators and commuters, although the impact on pump prices and transport fares will depend on the details of the implementation.

Newstrends.ng will continue to monitor the Federal Government and NNPCL for the exact discount amount, effective pump prices and implementation guidelines.