FG Targets Transport Costs With 30-Day Petrol Discount at NNPC Stations
The Federal Government has announced a 30-day petrol discount at NNPC filling stations, with public transport operators to receive priority under the arrangement.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday, saying it is aimed at easing the pressure of rising fuel costs on Nigerians.
Under the arrangement, NNPC will sell petrol without adding its usual profit, allowing customers to buy fuel at a lower price during the period.
The government is also proposing to limit the cost of petrol before it reaches filling stations to ₦1,350 per litre. If the cost rises above that amount, oil marketers and importers would temporarily cover the extra cost and recover it when prices fall. However, the proposed limit does not mean petrol will sell for ₦1,350 per litre at every filling station.
Oyedele said the measure was not a return to fuel subsidy, explaining that the government was simply asking NNPC to sell petrol at cost price for the initial 30 days.
The impact of the discount on transport fares and other living costs will depend on how the arrangement is implemented, while the government is yet to clarify what will happen after the initial 30-day period.
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