Atiku seeks clarification on NNPC Limited’s funding of petrol discount

Former Vice President and presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, has sought clarification on how NNPC Limited will handle the cost of the recently announced 30-day petrol discount.

Reacting on Saturday through Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku asked for details of the approval process and how the discount would be accounted for.

According to the statement, NNPC Limited was established under the Petroleum Industry Act to operate as a commercial company, raising questions about whether the decision followed proper corporate channels and respected shareholder rights.

The statement said that when Nigerians demand affordable petrol, government officials refer to market forces, but the Presidency has now announced relief through NNPC’s margin, leaving Nigerians wanting to know how it will be funded.

It also raised questions about the coverage of the relief, noting that NNPC Retail has just over 900 stations for a country of about 242 million people, while motorists are queuing at some outlets.

The statement asked how motorists far from NNPC stations would access the discount, what would happen when a station ran out of petrol, and how much of the ₦66 saving would remain after accounting for travel costs and time spent in queues.

It asked whether the NNPC board had approved the decision before the announcement, what figures were examined, what margin the company would forgo, and where the cost would appear in its accounts.

The statement noted that the administration had said the measure was not a subsidy, adding that the cost remained regardless of how it was described.

It said the former Vice President had earlier proposed a transparent production subsidy, arguing that Nigerians needed affordable fuel across the country, rather than temporary relief at a limited number of stations.

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