Muhammed Abubakar, Reporting
THE Nigerian National Petroleum Company (NNPC) Limited has said its ongoing petrol price discount is part of the Federal Government’s response to rising global oil prices and should not be mistaken for the return of fuel subsidy.
The company said the temporary initiative is designed to provide practical relief to consumers without reversing Nigeria’s market-based petroleum pricing policy, stressing that it remains committed to commercially responsible operations.
NNPC stated that the discount programme reflects the government’s proactive measures to cushion the impact of volatility in the international oil market while ensuring that Nigerians receive short-term support during the current economic challenges.
The national oil company also reaffirmed its commitment to uninterrupted supply of petroleum products, saying it would continue to collaborate with the Federal Government and other stakeholders to reduce the burden of rising fuel costs on households, businesses and the wider economy.
It urged members of the public to disregard claims that the ongoing discount signals the restoration of petroleum subsidy, insisting that the initiative is solely a customer relief measure.
The company further pledged to continue providing clear information on the scope and duration of its customer-focused programmes to enable Nigerians to make informed purchasing decisions.
NNPC also expressed appreciation to Nigerians for their continued patronage and support, assuring customers of transparent communication on its products, pricing and other relief initiatives.
Earlier, the company had dismissed reports suggesting that the Federal Government had reintroduced fuel subsidy, maintaining that the reduction in petrol prices at its retail outlets was a temporary intervention to cushion the effects of increasing fuel costs.
According to the company, the discount became necessary following the surge in global crude oil prices caused by the conflict in the Middle East, which has led to higher domestic petrol prices.
In a statement issued on Friday by the Chief Corporate Communications Officer of NNPC Limited, Andy Odeh, the company said the initiative complements the Federal Government’s efforts to reduce the impact of higher fuel prices on families, businesses and the nation’s economy.
It noted that rising petrol prices have increased transportation expenses, business operating costs and financial pressure on households across the country.
The company recalled that the discount was introduced on 1 October 2026, to commemorate Nigeria’s 66th Independence Anniversary and has now been extended until 31 October 2026, at all NNPC Retail stations nationwide.
NNPC explained that the extension followed the 8 October 2026 statement by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, reaffirming the Federal Government’s commitment to working with stakeholders to cushion the impact of rising fuel prices.
It stressed that the discount applies only to NNPC Retail outlets and neither establishes a uniform pump price across the country nor alters the existing deregulated, market-driven pricing framework for petroleum products.
