Nigeria Offers 30-Day Petrol Discount at NNPC Stations

The Federal Government announced on Thursday a 30-day measure under which the Nigerian National Petroleum Company (NNPC) will forgo its retail profit margin and sell petrol at landing cost. Finance Minister Taiwo Oyedele said the discount aims to cushion vulnerable households and commercial transport operators from global crude price spikes. The Presidency stated the measure has President Bola Tinubu's backing and is not a return to the subsidy regime abolished in May 2023.

Under the arrangement, if NNPC's landing cost is N1,300 per litre, it will sell at that price rather than adding its usual margin. The government is also negotiating a N1,350 per litre ceiling on the ex-gantry cost of petrol, with refiners and importers absorbing costs above that level. Oyedele added that forward sales of crude oil to domestic refineries will begin as production increases.

“This is neither a subsidy nor a price control: it is designed to smooth prices over time rather than suppressing them.”

The Petroleum Products Retail Outlets Owners Association (PETROAN) welcomed the move, saying lower transport fuel costs could reduce food and commodity prices. The association requested a 30 percent allocation of the discounted volume for its members to ensure wider distribution across the country.

Opposition figures and civil society groups criticised the timing and scale of the intervention. Former Vice President Atiku Abubakar called it a temporary political fix, while the Nigeria Democratic Congress labelled it "tokenism." The African Democratic Congress campaign council dismissed it as a desperate attempt to bribe voters ahead of the 2027 elections. Social media commentators questioned why relief came after more than three years of high prices.