The Federal Government has announced plans to sell petrol at a discounted price at designated NNPCL filling stations for 30 days as part of measures to ease the impact of rising energy and transportation costs.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday while presenting the government’s latest interventions aimed at reducing the cost of living.
According to Oyedele, the discount will be implemented at NNPCL retail outlets, with priority expected to be given to commercial and public transport operators. The government says the measure is intended to provide immediate relief to transport operators and passengers affected by rising fuel prices and transportation fares.
Oyedele clarified that the initiative does not represent a return to the former petrol subsidy regime. He described it as a temporary discount designed to cushion the effect of fluctuations in energy prices while other measures are being pursued.
The minister also disclosed that discussions were ongoing on a possible petrol landing-price ceiling of ₦1,350 per litre, subject to monthly review in line with market conditions.
The Federal Government is also promoting compressed natural gas (CNG) and other lower-cost energy alternatives as part of efforts to reduce dependence on petrol and lower transportation expenses.
President Bola Ahmed Tinubu has similarly emphasised expanding the use of CNG as a means of reducing transport costs and ensuring that lower energy costs translate into cheaper fares for Nigerians.
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