The Federal Government has announced a petrol price discount at NNPC filling stations for the next 30 days, with priority given to public transporters, Finance Minister Taiwo Oyedele confirmed at a press conference in Abuja on Thursday, October 8, 2026.
What the Minister Said
Oyedele, who serves as Minister of Finance and Coordinating Minister of the Economy, disclosed the plan during the press conference. He stated that the discount would apply specifically to NNPC stations and that the government had also reached an agreement on a negotiated landing cost for petrol imports, which would be reviewed on a monthly basis.
In his words: "There'll be a discount on NNPC petrol for the next 30 days, with priority for public transporters," adding that the government will also have a "negotiated landing cost which will be reviewed monthly."
The minister did not specify the exact size of the discount or how much prices would fall per litre at the pump, leaving details for later clarification.
Context: Fuel Prices Since Subsidy Removal
The announcement comes as many Nigerians continue to grapple with high fuel costs following the removal of the petrol subsidy in 2023, which sent pump prices sharply higher across the country. By targeting public transporters first, the government appears to be trying to reduce the burden on commuters, many of whom have faced repeated fare increases tied to rising fuel costs.
The monthly review of the negotiated landing cost suggests the arrangement could change depending on international oil prices and exchange rate movements. The government did not give details on how NNPC will fund the discount or whether it will be treated as a subsidy.
Impact and Next Steps
For the next 30 days, Nigerians purchasing petrol at NNPC stations are expected to pay lower prices, with public transporters receiving priority access to the discount. The monthly review of the landing cost means the arrangement could be adjusted in line with global oil price trends and currency fluctuations.
The Federal Government has not yet provided further specifics on the discount's magnitude or funding mechanism, leaving commuters and transporters to await additional details.
