The Nigerian National Petroleum Company Limited (NNPC Ltd) has said its petrol discount initiative is not a reintroduction of fuel subsidy, but a temporary measure to ease the impact of rising petrol prices on Nigerians.
The company said the initiative was introduced on October 1, 2026, to commemorate Nigeria’s 66th Independence Anniversary and would continue until October 31 across NNPC Retail stations nationwide.
In a statement issued on Friday by its Chief Corporate Communications Officer, Andy Odeh, NNPC said the discount was intended to provide relief to households and businesses amid elevated global crude oil prices linked to the conflict in the Middle East.
The company’s clarification followed a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026.
NNPC said the discount applied only to its retail outlets and did not establish a uniform national pump price or change the market-based pricing framework for petroleum products.
It added that the initiative aligned with the Federal Government’s efforts to cushion the effects of rising fuel costs while maintaining commercially responsible operations.
“NNPC Limited remains committed to reliable product supply and collaboration with the government and stakeholders to help ease the burden on Nigerians. We therefore urge the public to disregard any interpretation of this discount as a subsidy restoration,” the statement said.
The company assured Nigerians that it would continue to provide reliable fuel supplies and communicate clearly about its products, prices and customer relief initiatives.
