The Federal Government announced a 30 day discount on petrol sold at NNPC stations with nationwide priority for commercial drivers.
The Federal Government of Nigeria has announced a special 30 day discount on petrol sold at all filling stations owned and operated by the Nigerian National Petroleum Company Limited(NNPC) across the country.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, broke the good news to Nigerians on Thursday, October 8, 2026, during an official press briefing held in the Federal Capital Territory, Abuja.
Under this new government plan, commercial buses, taxis, keke napep riders, and public transport operators nationwide will be given the first chance to buy the discounted fuel so that transport fares can come down for everyday citizens.
Speaking to journalists during the media conference in Abuja, the finance minister addressed questions about rising fuel prices and made it clear that the discount will run for one full month in the first instance.
He noted that the new measure was carefully designed by the government to give immediate financial relief to poor families and daily commuters who spend a lot of money on transport every day to go to work, market, and school.
Clearing the air so that citizens do not get confused about the nature of the fuel price reduction, Minister Taiwo Oyedele stated: “We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days in the first instance, with priority for public transporters nationwide. So, it’s not a subsidy; the government is just saying we sell to you at cost.”
The finance minister explained that the government is simply removing its own profit margin and selling the fuel directly to the public at the exact amount it costs to bring it into the country.
He emphasized that the decision is completely different from returning to the old expensive fuel subsidy system that was stopped previously.
To further protect Nigerians from sudden fuel price increases in the coming weeks, the minister revealed that the government is also working closely with fuel importers and oil refineries to set a maximum ceiling price on petrol.
He explained that having a stable fuel price is much better for business owners and families than prices jumping up and down every week.
Explaining the main economic reason behind setting a stable price limit for fuel nationwide, Taiwo Oyedele stated: “The reasoning is simple: N1,400 a litre today and N1,400 a litre tomorrow is better than N1,500 a litre today and N1,300 a litre tomorrow.”
He further added that the Federal Government is actively negotiating a price ceiling of 1,350 Naira per litre on the landing cost of petrol to keep pump prices steady at filling stations.
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He noted that if global oil prices rise higher than the agreed ceiling, refineries and fuel suppliers will handle the difference temporarily and recover it later through official government arrangements.
The minister also shared that the government is building a national strategic fuel reserve to make sure that petrol is always available in large quantities across all states.
He explained that whenever bad traders try to hide fuel or cause artificial scarcity to push up prices, the government will release petrol from its reserves directly into the market to stop price exploitation.
Transport unions and commercial driver associations across the country have welcomed the announcement. Millions of Nigerians are now expecting transport fares to drop as NNPC filling stations begin dispensing the discounted petrol to public transporters.
Jennifer Baba is a journalist, international news correspondent, and writer at Moderncrux, where she covers artificial intelligence, fintech, emerging technologies, global politics, and international affairs. Based in Nigeria, she is passionate about transforming complex global developments into clear, engaging stories that inform and inspire readers.
