FG Announces 30-Day Petrol Discount Nationwide, Gives Priority to Public Transporters
By Fact Harbour News
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 developments surrounding petrol prices and the government’s fuel-price policy.
According to Oyedele, the arrangement will initially run for 30 days and is designed to provide relief to consumers, particularly public transport operators, amid recent fluctuations in petrol prices.
The minister stressed that the initiative should not be interpreted as a return to the petrol subsidy regime abolished by the Federal Government in 2023.
“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,” Oyedele said, explaining that the government would allow the product to be sold at cost during the period.
The announcement comes as petrol prices have varied among NNPC filling stations in different parts of the country. NNPC’s latest reported prices put petrol at about ₦1,355 per litre in Lagos and Rivers states, while Abuja was listed at approximately ₦1,370 per litre.
The government is also proposing a broader price-modulation mechanism aimed at limiting the impact of international crude oil and fuel-market volatility on domestic petrol prices.
Under the proposed arrangement, the government is negotiating a ceiling of about ₦1,350 per litre for the ex-gantry or landing cost of petrol. When market costs rise above the agreed level, refineries and importers would absorb the difference temporarily and recover it when market conditions improve.
Oyedele described the proposal as a price-stability mechanism rather than a subsidy or conventional price control.
The minister also disclosed plans for forward sales of crude oil to domestic refineries. The government expects the arrangement to provide refiners with greater certainty over their crude supply costs and help reduce the effect of international market fluctuations on domestic fuel prices.
Under the proposed system, crude could be sold to refiners at an agreed price for a specified period, allowing them to plan their operations with greater certainty.
The latest measures come amid continuing concerns over the effect of petrol prices on transportation costs and household expenses. Public transport operators are expected to be among the immediate beneficiaries of the 30-day NNPC discount.
However, details on the exact pump-price reduction available to individual motorists and the mechanism for identifying or prioritising public transport operators had not been fully disclosed at the time of the announcement.
The Federal Government’s position is that the intervention is temporary and different from the broad petrol subsidy programme that previously required government funding to bridge the gap between the market cost of petrol and the price paid by consumers.
The 30-day arrangement will therefore be closely watched by motorists, transport operators and businesses as the government seeks to balance consumer relief with the financial pressures associated with fuel-price volatility.
Further details on implementation and the specific terms of the discount are expected from the Federal Government and NNPCL.
