Oyedele: NNPC Petrol Discount Is Not a Return of Fuel Subsidy
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has clarified that the petrol price discount introduced by NNPC Retail Limited does not amount to a reinstatement of fuel subsidy.
Oyedele explained that the price reduction, which took effect on October 1, 2026, is a commercial decision by the company to lower its profit margin and transfer the savings to consumers, rather than rely on government funding.
In a statement on Friday, the minister said the initiative was designed to cushion the impact of high petrol prices on households, commuters and transport operators while maintaining the Federal Government’s 2023 decision to end petrol subsidy.
Blessing Anolaba
Editorial & Creative Correspondent
A storyteller and journalist passionate about telling stories for policy change and impact.
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