The federal government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL), with public transport operators nationwide set to receive priority.
Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, disclosed this on Thursday during a press briefing on petrol prices and subsidy-related issues in Abuja.
Oyedele clarified that the arrangement should not be regarded as a return of fuel subsidy, explaining that the government would instead sell the product at cost during the period.
“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. So, it’s not a subsidy, government is just saying we sell to you at cost.”
The minister did not immediately provide further details on the exact amount of the discount or the specific pump price under the arrangement.
The announcement comes amid ongoing concerns over petrol prices and their impact on transportation costs and household expenses.
More to come…
