NNPC: Petrol discount not restoration of subsidy

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

The NNPC made this known in a statement issued by its Chief Corporate Communications Officer, Andy Odeh, on Friday, October 9, 2026.

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

Odeh noted that the NNPC 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 the national oil company’s commitment to supporting the federal government’s efforts to ease the burden of rising fuel costs on Nigerians.

The NNPC spokesman said: “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 October 31, 2026 across NNPC retail stations nationwide.

“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy.”

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

Ofeh 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, stressing that the discount was strictly a customer relief measure.