FG Announces Nationwide Discount On Fuel
The Federal Government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL) as part of measures aimed at reducing the pressure of fuel costs on Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing on petrol prices and subsidy-related issues in Abuja.
Oyedele said the arrangement would initially run for 30 days, with public transport operators across the country expected to receive priority under the scheme.
The minister explained that the government’s decision was not a return to petrol subsidy. Instead, the Federal Government would provide the product to consumers at its cost through the NNPCL during the period.
According to him, the measure is intended to make petrol more affordable, particularly for public transporters who rely heavily on fuel for their daily operations.
The government’s announcement comes amid continued concerns over petrol prices and the effect of fuel costs on transportation and household expenses across the country.
The discount will apply to petrol dispensed by the NNPCL for the initial 30-day period, while public transport operators will be given priority under the arrangement.
The Federal Government is expected to provide further details on how the discount will be implemented nationwide as the programme begins.
Oyedele also clarified that the arrangement should not be interpreted as the government reversing its earlier decision to end petrol subsidies, maintaining that the product would simply be sold at cost during the 30-day period.
