FG Announces 30-Day Petrol Price Discount at NNPC Stations

The Federal Government has announced a 30-day discount on petrol sold through Nigerian National Petroleum Company Limited (NNPCL) filling stations, in a fresh move aimed at easing the impact of rising fuel and transportation costs on Nigerians.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the measure on Thursday, October 8, 2026, during a press briefing in Abuja on the government’s response to rising petrol prices.

According to Oyedele, the temporary arrangement will give priority to public transport operators nationwide, as the government seeks to reduce the pressure that higher petrol costs have placed on transportation fares and household expenses.

The minister stressed that the measure should not be interpreted as a return to the former fuel subsidy regime.

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, Oyedele said.

He explained that the government’s approach was to allow petrol to be sold at cost under the arrangement rather than reintroducing a general fuel subsidy.

Although the Federal Government has confirmed the 30-day discount, it has not publicly stated a fixed amount by which the pump price will be reduced for each liter.

This means motorists and other petrol consumers should not assume that petrol will be sold at a particular nationwide price solely because of the announcement.

The price motorists eventually pay may continue to vary by location and other factors affecting the downstream petroleum market.

Earlier on Thursday, reports indicated that NNPCL had already reduced its petrol pump price by **N5 per litre** at its retail outlets, with prices varying across states. That adjustment should be distinguished from the newly announced 30-day discount arrangement.

A major focus of the Federal Government's latest intervention is public transportation. With petrol costs directly affecting the operating expenses of commercial transport operators, the government expects the preferential arrangement at NNPCL stations to help moderate transportation costs.

The priority for public transporters is particularly significant because increases in petrol prices can quickly translate into higher fares for commuters, as operators seek to cover fuel and other operating expenses.

However, the government has not yet provided all operational details explaining how public transport operators will be identified or how the priority arrangement will be implemented at individual NNPCL filling stations.

The 30-day petrol discount is part of a broader package of measures announced by the Federal Government to cushion the effect of high energy costs.

Oyedele also disclosed that the government is negotiating a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol, with the arrangement expected to be reviewed monthly.

The proposed ceiling is intended to reduce sudden fluctuations in petrol prices caused by changes in international crude oil prices and foreign exchange movements.

Importantly, the proposed ₦1,350 figure is **not the same thing as a nationwide pump price of ₦1,350 per litre. The ex-gantry or landing cost is only one component of the final price consumers pay at filling stations.

The latest intervention comes amid renewed pressure from high petrol and transportation costs.

The Federal Government says its measures are intended to provide immediate relief while also addressing structural factors responsible for volatility in the downstream petroleum market.

The government has also outlined other measures, including efforts to increase domestic crude supply to local refineries, expand compressed natural gas use, provide additional support for vulnerable Nigerians and reduce regulatory costs that contribute to the price of goods and services.

The proposed price-modulation mechanism is designed to prevent pump prices from responding immediately and fully to every movement in global crude prices or the exchange rate.

For motorists who patronise NNPCL filling stations, the immediate implication is that petrol should be available at a discounted rate under the new arrangement during the initial 30-day period.

The exact discount per liter has not been publicly specified.

Public transport operators will receive priority under the arrangement.

The announcement does not establish a single nationwide pump price for petrol.

The government’s announcement also does not automatically require every independent petroleum marketer to sell petrol at the same price as NNPCL outlets.

The announcement comes against the backdrop of increased competition in Nigeria's downstream petroleum sector, recent price adjustments by NNPCL and other marketers have followed changes in the cost of locally refined petrol.

Reports earlier this month indicated that several marketers had reduced pump prices in response to lower supply costs, including adjustments at selected filling stations in Lagos and Abuja.

The increased contribution of domestic refineries to Nigeria's fuel supply has also become an important factor in the changing dynamics of the petrol market.

The effectiveness of the new arrangement will depend largely on how the discount is implemented at NNPCL retail outlets and whether the savings are reflected in transportation costs.

1. The exact value of the petrol discount.

2. How public transport operators will receive priority.

3. Whether the arrangement will affect all NNPCL filling stations nationwide.

4. How the proposed ₦1,350 ex-gantry ceiling will work.

5. Whether the 30-day arrangement will be extended after the initial period.

For now, the Federal Government's position is that the measure is a temporary cost-relief intervention rather than a return to the previous nationwide petrol subsidy system.

Source Attribution: 247Newscheck independently reviewed the October 8, 2026 statements attributed to Finance Minister Taiwo Oyedele and cross-checked the announcement against contemporaneous reports from Channels Television, Punch, Nairametrics and Reuters.