FG Announces 30-Day Petrol Price Reduction at NNPC Stations, Targets Lower Transport Fares
The Federal Government has announced a 30-day petrol price reduction at NNPC filling stations, with commercial transport operators set to receive priority under the arrangement.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday, October 8, 2026, during a press briefing in Abuja.
The government has clarified that the move is not a return to fuel subsidy. Instead, NNPC will temporarily sell petrol at cost price, with the aim of easing the burden of rising fuel and transportation costs on Nigerians.
By prioritising commercial transport operators, the government hopes the lower petrol prices will translate into reduced transport fares and provide some relief for commuters.
Beyond the 30-day intervention, the government is also considering a longer-term measure to stabilise domestic fuel prices by supplying crude oil to local refineries at more predictable rates. According to Oyedele, crude oil could be sold to refiners at about $80 per barrel over the next six months to help shield Nigerians from fluctuations in global oil prices.
Blessing Anolaba
Editorial & Creative Correspondent
A storyteller and journalist passionate about telling stories for policy change and impact.
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