NNPC extends N66 per litre petrol discount to October 31, rules out subsidy return

The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its N66 per litre petrol discount at its retail outlets nationwide until October 31, 2026, clarifying that the initiative does not constitute a return to petroleum subsidy.

The company announced the extension in a statement issued on Friday by its Chief Corporate Communications Officer, Andy Odeh, explaining that the discount was introduced on October 1 to mark Nigeria’s 66th Independence Anniversary and provide temporary relief to motorists amid rising global crude oil prices linked to the conflict in the Middle East.

NNPC said the extension was part of its commitment to supporting efforts by the Federal Government to mitigate the impact of higher fuel costs on households and businesses.

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

According to the company, rising petrol prices have increased the cost of transportation and placed additional pressure on households and businesses, making targeted consumer relief necessary.

“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 statement said.

NNPC maintains market-based pricing

NNPC emphasised that the discount applies exclusively to its retail outlets and does not establish a uniform pump price nationwide or alter 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 company stated.

It urged Nigerians to disregard interpretations suggesting that the initiative signals a reversal of the government’s petroleum subsidy policy.

The company maintained that the discount was a limited customer-relief measure rather than a change to the existing pricing arrangement in the downstream petroleum sector.

NNPC also pledged to continue collaborating with the Federal Government and other stakeholders to sustain reliable petroleum product supplies and identify practical measures to support consumers.

It said it would communicate the scope and duration of its customer initiatives clearly to enable Nigerians to make informed purchasing decisions.

The statement was dated October 9, 2026, and published on the X handle of Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy.

The extended discount will remain in effect at NNPC Retail outlets until October 31, 2026, while petrol prices at other filling stations will continue to reflect their respective pricing arrangements.