“The NNPC Has Looked At It And Said We Are Making This Much Profit–Idris

According to a report by Premium Times, on Monday, October 12, 2026, the Minister of Information, Mohammed Idris, has defended the Nigerian National Petroleum Company Limited’s (NNPC) 30-day petrol discount initiative, describing it as a temporary measure intended to provide relief to Nigerians amid rising global energy costs.

Idris explained that the arrangement was designed to reduce some of the financial pressure facing consumers as petrol prices continue to affect household expenses and business operations.

He maintained that the initiative should not be interpreted as a return to the fuel subsidy policy previously operated by the Federal Government.

According to the minister, the NNPC decided to reduce part of its profit margin to help cushion the effect of higher petrol prices on consumers.

He explained that the company had considered its earnings and opted to forgo some of the profits it would otherwise make in order to provide temporary relief.

The arrangement, as described by the minister, involves the company absorbing part of the financial impact rather than requiring the government to reinstate the former subsidy programme.

Idris stressed that the initiative was different from the petrol subsidy removed by the Federal Government in 2023.

Under the new arrangement, the relief is expected to come from the NNPC’s own profit margin rather than direct funding from public resources.

The distinction was central to the minister’s defence of the measure, as the government has maintained its position against restoring the previous subsidy system while seeking ways to address the effects of higher fuel costs on Nigerians.

The 30-day discount initiative comes amid continuing concerns about the cost of petrol and its impact on transportation, food prices and other essential goods and services.

Changes in fuel prices can affect the cost of moving agricultural produce and manufactured goods, as well as the daily expenses of commuters and businesses that depend on petrol-powered vehicles and equipment.

The temporary discount is intended to offer some relief to consumers during the specified period, although its actual impact will depend on how the arrangement is implemented at participating retail stations.

The minister’s comments also highlighted the role of the NNPC in determining how the company’s earnings could be used to reduce the immediate burden on consumers.

Rather than describing the measure as government-funded assistance, Idris presented it as a decision by the national oil company to accept lower profits for a limited period.

The arrangement is therefore distinct from a broad government subsidy funded through public finances, according to the explanation provided by the minister.

The initiative is limited to 30 days, and the statement did not provide further details about whether the discount would be extended beyond that period.

Defending the decision, Idris said the NNPC had considered the profits it was making and determined that some of those earnings could be sacrificed to provide Nigerians with temporary support.

He explained the reasoning behind the initiative, saying, “The NNPC has looked at it and said we are making this much profit. Why can’t we forgo some of the profit that we are making, so that Nigerians will have some form of cushioning?.”

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