ABUJA — The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its ₦66-per-litre petrol discount at NNPC Retail filling stations until October 31, 2026, as rising global oil prices continue to put pressure on fuel costs in Nigeria.
The company said the initiative was designed to provide temporary relief to consumers and should not be interpreted as a restoration of the petrol subsidy programme abolished in May 2023.
The extension follows the initial Independence Day promotion, which offered motorists a ₦66 reduction on every litre of petrol purchased through the NNPC Fuel App at participating retail stations.
NNPC Explains Purpose Of Discount
NNPC Retail introduced the original promotion to commemorate Nigeria’s 66th Independence anniversary. The offer initially ran from October 1 to October 7 before the company announced its extension.
Under the promotion, eligible customers could access the discount by purchasing petrol through the NNPC Fuel App at NNPC Retail outlets.
The company said the extension would continue to offer consumers some relief amid elevated global crude oil prices and fluctuations affecting petroleum product costs.
The ₦66 reduction represents a discount on the pump price, rather than a fixed nationwide price for petrol. Prices may therefore differ between locations and retail outlets.
FG Rejects Claims Of Subsidy Return
The Federal Government has also rejected suggestions that the petrol discount amounts to a return of fuel subsidy.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, explained that NNPC Retail was absorbing the cost of the discount through its retail profit margin rather than relying on public funds.
According to the government, the distinction lies in who bears the financial cost. Under a subsidy arrangement, government revenue is used to reduce the price paid by consumers. In contrast, a retailer can lower its selling price by accepting a smaller profit margin.
Oyedele maintained that the arrangement does not represent a reversal of the government’s decision to end petrol subsidy in 2023.
The debate over the discount comes as Nigerians continue to face high transportation and living costs linked partly to elevated petrol prices.
Government Announces Additional Measures
Beyond the retail discount, the Federal Government has announced a separate 30-day arrangement under which NNPC Retail will forgo its petrol retail profit margin and sell fuel at cost, with priority for public transport operators.
The Presidency said the measure was intended to cushion the impact of global crude oil price shocks and volatility on households, particularly vulnerable consumers.
The government has also outlined other measures aimed at moderating fuel-price pressures, including negotiations over a ceiling on petrol’s ex-gantry or landing cost, forward crude sales to domestic refineries and plans for a National Strategic Fuel Reserve.
Officials have maintained that these measures are intended to manage price volatility and support consumers without reinstating a blanket petrol subsidy.
What Motorists Should Know
Motorists seeking to benefit from the ₦66 promotion should confirm the applicable terms and payment requirements through NNPC Retail’s official channels before purchasing fuel.
The extension applies to the company’s retail initiative and does not mean that every filling station in Nigeria must sell petrol at the same price.
For consumers, the immediate benefit is a reduction in the amount paid per litre at eligible NNPC Retail outlets. However, the broader impact will depend on prevailing pump prices, access to participating stations and the conditions attached to the offer.
NNPC’s extension keeps the Independence Day discount available until October 31, while the company and the Federal Government continue to describe the measures as temporary customer relief rather than a return to the former fuel subsidy system.
