“Fuel Subsidy Is Not Coming Back” — Onanuga Insists

The Federal Government has reiterated its position against the return of fuel subsidy, insisting that the petrol discount introduced by NNPC Retail Limited does not amount to a reversal of the policy ended in 2023.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, made the position clear in a post on his X handle while addressing public discussions surrounding the petrol discount.

Onanuga highlighted the difference between a retailer reducing its profit margin to lower pump prices and the government using public funds to subsidise fuel costs.

According to the explanation in the Finance Ministry’s statement, NNPC Retail is bearing the cost of the discount by taking a smaller margin on petrol sales, rather than receiving government funds to cover the price reduction.

“That is the regime this administration ended in 2023, and it is not coming back,” the statement declared, referring to the former fuel subsidy system.

The clarification comes amid public debate over the petrol discount, which took effect on October 1, with the government maintaining that the move is a commercial decision and not a return to government-funded fuel subsidies.