By Ghazali Ibrahim
The Federal Government has announced a 30-day discount on petrol sold at Nigerian National Petroleum Company Limited (NNPCL) filling stations nationwide.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing in Abuja.
Oyedele said public transport operators will receive priority under the arrangement, which is aimed at easing the impact of rising fuel and transportation costs.
“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 stressed that the measure does not amount to a return of the petrol subsidy, saying the government would instead make the product available at cost.
“So, it’s not a subsidy, government is just saying we sell to you at cost,” he added.
The announcement is part of a wider package of measures being rolled out by the Federal Government to reduce the pressure of fuel and transport costs on households and businesses.
The government is also proposing a ₦1,350-per-litre ceiling on petrol ex-gantry or landing costs, subject to monthly review.
Other measures include forward crude sales to domestic refineries, increased support for vulnerable households and efforts to reduce costs associated with transportation and logistics.
The exact amount of the 30-day discount and the implementation details were not disclosed in the initial announcement.
