The Nigerian National Petroleum Company Limited (NNPCL) has extended its petrol discount programme at retail stations nationwide until October 31, clarifying that the initiative is a temporary customer relief measure and not a restoration of fuel subsidy.
In a press statement issued on Friday, October 9, NNPCL Chief Corporate Communications Officer Andy Odeh said the discount was initially introduced on October 1 to mark Nigeria’s 66th Independence Anniversary but would now continue through the end of the month.
The company said the extension followed the Federal Government’s efforts to cushion the impact of elevated global crude oil prices, driven by the Middle East conflict, on domestic petrol prices and the wider economy.
NNPCL said the discount applies exclusively to its retail outlets and does not establish a uniform pump price nationwide or change the market-based pricing framework for petroleum products.
The clarification comes after Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele addressed the government’s petrol discount initiative on October 8.
According to NNPCL, the measure is intended to provide temporary relief to motorists and other customers facing higher fuel costs, rather than reverse the government’s existing approach to petrol pricing.
The company said it would continue working with the Federal Government and other stakeholders to support reliable product supply and reduce the burden of rising fuel prices on households and businesses.
It also urged Nigerians not to interpret the discount as a return to subsidy, stressing that the programme would operate within its existing commercial framework.
NNPCL added that it would continue communicating the scope and duration of its customer initiatives to help consumers make informed purchasing decisions.