Fuel discount promo not restoration of subsidy, says NNPC Ltd

The Nigerian National Petroleum Company (NNPC Ltd.) Limited has clarified that its fuel discount initiative is a temporary customer relief measure and does not amount to the restoration of petroleum subsidy.

The company made this known in a statement on Friday by its Chief Corporate Communications Officer, Andy Odeh.

He said the initiative was designed to cushion the impact of rising fuel prices on households, businesses and the wider economy amid elevated global crude oil prices linked to the conflict in the Middle East.

He explained that it introduced the discount on October 1 to commemorate Nigeria’s 66th Independence Anniversary, adding that the initiative would continue until October 31, 2026, across NNPC retail stations nationwide.

He reaffirmed its commitment to supporting the Federal Government’s efforts to ease the burden of rising fuel costs on Nigerians.

According to NNPC, the discount followed the October 8 statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on measures to provide relief to Nigerians amid rising global crude oil prices.

“Following the statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday, NNPC Limited reiterates its commitment to working with the government and stakeholders to cushion the impact of rising fuel prices on households, businesses and the wider economy.

“Before the announcement, NNPC Limited had introduced a sales discount on October 1, to commemorate Nigeria’s 66th Independence Anniversary. This will now continue until Oct. 31, 2026 across NNPC retail stations nationwide. This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” he said.

He said that the initiative was limited to its retail outlets and did not establish a uniform national pump price or change the market-based pricing framework governing petroleum products.

He described the discount as a practical intervention to support customers during a period of heightened global market uncertainty while maintaining commercially responsible operations.

He urged Nigerians to disregard interpretations suggesting that the initiative represented a return to fuel subsidy, insisting that the discount was strictly a customer relief measure.

(NAN)