NNPC extends N66 petrol discount to October 31, denies subsidy return

The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its N66 per litre petrol discount across its retail outlets nationwide until October 31, insisting that the initiative does not amount to a restoration of petroleum subsidy.

The company said the discount, initially introduced on October 1 to commemorate Nigeria’s 66th Independence Anniversary, was intended to provide relief to motorists amid rising global crude oil prices linked to the conflict in the Middle East.

In a statement issued on Friday, NNPC’s Chief Corporate Communications Officer, Andy Odeh, said the company remained committed to supporting the Federal Government’s efforts to cushion the impact of rising fuel prices on households and businesses.

The statement followed remarks by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026.

NNPC said the initiative was designed to ease the burden of higher petrol prices on Nigerians, particularly the cost of transportation and business operations.

“We recognise that higher petrol prices affect everyday life, from the cost of commuting to the expenses of running a business. We understand the strain on families and livelihoods, and this discount is intended to provide direct relief to customers during this difficult period,” the company said.

It stressed, however, that the discount applied only to NNPC Retail outlets and did not establish a uniform national pump price or change the market-based pricing framework for petroleum products.

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

The company urged Nigerians to disregard interpretations suggesting that the initiative marked a return to the petrol subsidy regime.

NNPC added that it would continue to collaborate with the government and other stakeholders to ensure reliable product supply while providing practical relief to consumers.

It also pledged to communicate the scope and duration of its customer initiatives clearly to enable Nigerians to make informed purchasing decisions. The statement, dated October 9, 2026, was posted on the X handle of the Special Adviser Information and Strategy to President Tinubu, Mr. Bayo Onanuga.