NNPC: Fuel Discount Is Customer Relief, Not Subsidy Return

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says the fuel discount at its retail stations is a temporary relief measure for customers and does not mean petrol subsidy has been restored.

 

The company's Chief Corporate Communications Officer, Andy Odeh, made the clarification in a statement issued in Abuja on Friday.

 

According to Odeh, the initiative is meant to cushion the impact of rising fuel prices on households, businesses and the wider economy, at a time when global crude oil prices are elevated by the conflict in the Middle East.

 

Odeh said NNPC introduced the discount on Oct. 1 to mark Nigeria's 66th Independence Anniversary, and that it will now run until Oct. 31, 2026, at NNPC retail stations across the country.

 

The statement came a day after the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, spoke on Thursday, Oct. 8, about measures to bring relief to Nigerians amid rising global crude oil prices.

 

"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.

 

"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," he said.

 

Odeh reaffirmed the company's commitment to supporting the Federal Government's efforts to ease the burden of rising fuel costs on Nigerians.

 

He said the discount applies only to NNPC's own retail outlets. It does not set a uniform national pump price, nor does it alter the market-based pricing framework for petroleum products, he added.

 

Odeh described the measure as a practical intervention to support customers during a period of heightened uncertainty in global markets, while the company continues to operate on a commercially responsible basis.

 

He urged Nigerians to disregard interpretations that the discount signals a return to fuel subsidy, insisting that it is strictly a customer relief measure.