The Nigerian National Petroleum Company Limited has urged Nigerians to disregard claims that its petrol discount amounts to a restoration of fuel subsidy, saying the initiative is a temporary customer relief measure restricted to its retail outlets.
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In a statement issued on Friday, October 9, by its Chief Corporate Communications Officer, Andy Odeh, the company said the discount would continue until October 31, 2026, across NNPC Retail stations nationwide. It stressed that the arrangement neither establishes a uniform national pump price nor changes the market-based pricing framework governing petroleum products.
The clarification followed Thursday’s announcement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that the Federal Government would offer a 30-day discount on petrol dispensed at NNPC filling stations, with priority for public transport operators.
Speaking at a press briefing in Abuja, Oyedele described the arrangement as selling petrol at cost, rather than reintroducing subsidy. His announcement placed the discount within the government’s wider response to rising fuel prices and the pressure on transportation costs, households and businesses.
NNPC explained that its own sales discount had already commenced on October 1 to commemorate Nigeria’s 66th Independence Anniversary, before the minister’s announcement.
“Before the announcement, NNPC Limited had introduced a sales discount on October 1, to commemorate Nigeria’s 66th Independence Anniversary.
“This will now continue until Oct. 31, 2026 across NNPC retail stations nationwide.
“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” Odeh said.
The company attributed the intervention to elevated global crude oil prices linked to the conflict in the Middle East and their effect on domestic petrol prices. It said the resulting increases had placed additional strain on families, livelihoods and business operations.
“Following the statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday, NNPC Limited reiterates its commitment to working with the government and stakeholders to cushion the impact of rising fuel prices on households, businesses and the wider economy,” the statement said.
NNPC maintained that the discount should be understood within its limited scope as a customer initiative at its retail stations. It said the offer did not introduce a nationwide fixed price for petrol or alter the pricing framework applicable to other petroleum marketers.
The company also reaffirmed its commitment to reliable product supply, saying it would continue working with the government and other stakeholders to ease the burden of higher fuel costs while maintaining commercially responsible operations.
It promised to communicate the scope and duration of its customer initiatives clearly so that Nigerians could make informed purchasing decisions.
Reports on the extension also described the Independence Anniversary promotion as a ₦66-per-litre discount. However, NNPC’s October 9 statement did not specify the discount amount or restate payment conditions for accessing the extended offer.
The two announcements also used different descriptions of the duration: Oyedele announced relief for “the next 30 days” on October 8, while NNPC’s subsequent statement expressly fixed October 31 as the end date for its retail discount. The company did not explain that difference in the statement.
Separately, Oyedele announced that the government was negotiating a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol, subject to monthly reviews. That proposed ceiling concerns the cost before retail sale and does not mean petrol would sell for ₦1,350 per litre at filling stations.
Under the proposed mechanism, refiners and importers would initially absorb costs above the ceiling and recover the shortfall later when market conditions permit. The minister described this as a means of reducing price volatility, rather than a subsidy or price-control arrangement.
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