FG to offer 30-day petrol discount at NNPC stations

The Federal Government says Nigerians will enjoy discounted petrol prices at NNPC filling stations for the next 30 days, with priority given to public transport operators.

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, disclosed this at a news conference in Abuja on Thursday.

Oyedele said the government would also negotiate a landing-cost ceiling for petrol, which would be reviewed monthly.

“There’ll be a discount on NNPC petrol for the next 30 days, with priority for public transporters,” he said.

He said the measures were being introduced because existing interventions had not fully addressed the pressure on households and businesses arising from rising fuel and transportation costs.

According to him, the government is negotiating a ceiling of N1,350 per litre on the ex-gantry or landing cost of petrol under a proposed price modulation mechanism.

Oyedele clarified that the proposed N1,350 ceiling did not mean petrol would be sold at N1,350 per litre at filling stations.

He said the mechanism was intended to cushion consumers from sharp increases arising from fluctuations in global crude oil prices and the exchange rate.

“Pump prices should not have to follow every swing in global crude or the exchange rate,” he said.

The minister said the landing-cost ceiling would be subject to monthly reviews as part of efforts to promote stability in the domestic petrol market.

He added that the government would continue to introduce measures aimed at reducing the impact of fuel and transportation costs on Nigerians.