The Federal Government has announced a discount on Premium Motor Spirit, commonly known as petrol, dispensed by the Nigerian National Petroleum Company (NNPC) Limited for the next 30 days.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the discount at a press briefing on fuel prices and subsidy questions in Abuja on Thursday, October 8, 2026.
Oyedele said the discount is not a subsidy, but an arrangement by the government to sell petrol at cost.
Oil prices rise amid Middle East shipping attacks
Oyedele said: “We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days in the first instance with priority for public transporters nationwide.
So, it’s not a subsidy, government is just saying we sell to you at cost.”
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