NNPC clarifies N66 petrol discount is temporary relief, not return of fuel subsidy

Nigerian National Petroleum Company (NNPC) Limited has announced that its N66 per litre petrol discount will continue until October 31, stressing that the initiative is a temporary relief measure and not a return to the fuel subsidy regime.

The company said the extension is part of efforts to support Nigerians facing rising fuel costs triggered by higher global crude oil prices linked to the ongoing Middle East conflict.

NNPC explained that the discount was first introduced on October 1 to mark Nigeria’s 66th Independence Anniversary but has now been extended to provide additional relief to motorists and businesses.

According to the company, the initiative aligns with the Federal Government’s efforts to cushion the impact of rising fuel prices on households, transport operators and the wider economy.

NNPC said the decision also followed the recent position of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who spoke on measures to ease the burden of higher petrol prices on Nigerians.

The company acknowledged that rising petrol prices have increased the cost of transportation and business operations, placing pressure on families across the country.

It, however, insisted that the discount should not be mistaken for the restoration of fuel subsidy.

“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the company stated.

NNPC also clarified that the initiative applies only at its retail filling stations nationwide and does not create a single national pump price or change the country’s market-based pricing system for petroleum products.

The company assured Nigerians that it would continue to maintain a steady supply of petroleum products while working with the government and other stakeholders to reduce the hardship caused by current global market conditions.

NNPC urged members of the public to disregard claims suggesting that the discount signals the return of fuel subsidy, adding that it remains committed to “reliable supply and responsible customer service.”

The company further pledged to continue providing clear information on its pricing and customer support initiatives to enable Nigerians make informed purchasing decisions.

Nigeria removed fuel subsidy in 2023 as part of economic reforms aimed at reducing government spending and encouraging market-driven pricing. Since then, petrol prices have largely reflected international crude oil prices and exchange rate movements. The temporary N66 discount is one of the measures introduced to provide short-term relief without reversing the government’s deregulation policy.

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