Posted by Chinenye on Thu 08th Oct, 2026 - tori.ng
The Federal Government is giving petrol buyers a temporary break, with NNPC stations set to offer a discount for the next 30 days.
(NNPC Station. Photo by Premuim Times)
The Federal Government has announced a 30-day discount on petrol sold by NNPC Limited, with public transport operators getting priority.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said this on Thursday at a press briefing in Abuja.
Oyedele said the discount is only a cut in margin at NNPC stations and not a return of petrol subsidy.
He said the government is simply selling to people at cost for the first 30 days.
The government is also talking with refiners and importers about a limit of N1,350 per litre on the landing cost of petrol, to stop sharp swings in pump prices.
If costs go above that limit, refiners and importers would carry the loss and get it back later when crude prices or the exchange rate improve.
The limit will be reviewed every month and the figures made public.
Other plans include more cash transfers to poor households, cheap loans for small businesses and consumers, and a faster rollout of gas powered vehicles.
Oyedele added that the government has already waived taxes and duties on petrol, worth more than N3.3tn for the year up to September 30, 2026.
He stressed that none of these steps brings back a blanket subsidy, saying that would cause long term harm for a short term fix.
Each measure is meant to reach those who need help without putting the wider economy at risk.
NNPC stations currently sell petrol at N1,355 per litre in Lagos and Rivers, and N1,370 in Abuja.