BREAKING: FG Announces 30-Day Discount On Petrol Sold By NNPC

The Federal Government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL), with priority to be given to public transporters nationwide.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday at a press briefing on fuel prices and subsidy-related issues in Abuja.

Oyedele explained that the arrangement should not be regarded as a return to petrol subsidy, but rather an initiative by the government to sell the product at cost.

“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. So, it’s not a subsidy; government is just saying we sell to you at cost,” the minister said.

He, however, did not disclose the exact amount of the discount or the pump price of petrol under the arrangement.

The announcement comes amid continuing concerns over petrol prices and their impact on transportation costs and the broader cost of living across the country.