Economy
Nigeria Unveils 30-Day Petrol Discount, Rules Out Full Subsidy
BirrMetrics · 3 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
Nigeria has introduced a 30-day petrol discount at selected NNPC stations to ease financial burdens, while ruling out a permanent return to fuel subsidies.
- The Nigerian government launched a 30-day petrol discount at selected NNPC filling stations.
- Pump prices are cut by 66 naira per litre to 1,339 naira.
- The discount is tied to the 66th Independence Anniversary and has been extended until 31 October.
- Motorists must download the NNPC Fuel App and pay digitally to access the reduced price.
- The government ruled out reinstating a full subsidy, warning it could exceed 20 trillion naira a year.
- Public transport operators are given priority under the scheme according to Finance Minister Taiwo Oyedele.
- The government is pushing to cap petrol landing costs at 1,350 naira per litre, subject to monthly review.
- The cost of the discount is borne by NNPC Retail's own margin rather than the Federation Account.
- Opposition leaders, including former Vice President Atiku Abubakar, dismissed the discount as a short-term political fix.
- Some motorists report fuel shortages and argue the measure has brought no tangible relief to their costs.
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