The Federal Government has announced a 30-day discount on petrol sold through the Nigerian National Petroleum Company Limited (NNPCL), with public transport operators set to receive priority under the arrangement.
Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday, October 8, 2026, during a briefing in Abuja on petrol prices and subsidy-related issues.
Oyedele said the initiative should not be regarded as a return to fuel subsidy, explaining that the government would allow petrol supplied through NNPCL to be sold at cost during the initial 30-day period.
The minister said the intervention was designed to provide temporary relief, particularly for public transporters, as elevated fuel costs continue to affect transportation expenses and household budgets.
The government has not announced a specific discounted pump price or stated the exact amount that individual motorists will save under the 30-day arrangement. Public transporters, however, are expected to receive priority nationwide.
Oyedele also disclosed that the government is negotiating a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol. The proposed figure is not a fixed nationwide pump price, but is intended to reduce the impact of sharp movements in international crude prices and the exchange rate on domestic fuel costs.
Under the proposed price-modulation arrangement, the ceiling would be reviewed periodically, while refiners and importers could initially absorb any difference when market costs rise above the agreed level and recover it when conditions improve.
The announcement comes as petrol prices continue to vary across NNPCL stations. Recent reported prices put petrol at about ₦1,355 per litre in Lagos and Rivers, while Abuja was listed at ₦1,370 per litre.
The immediate discount is scheduled to run for 30 days in the first instance, with the government expected to assess the arrangement and broader measures aimed at reducing fuel-price volatility thereafter.
