By Stella Odueme
The Nigerian National Petroleum Company (NNPC) Limited has clarified that its petrol discount initiative is intended to provide temporary relief to Nigerians amid rising global crude oil prices and does not amount to a restoration of petroleum subsidy.
The company said the initiative was introduced to cushion the impact of rising petrol prices on households, businesses and the wider economy following the ongoing conflict in the Middle East and its implications for the global oil market.
In a statement issued on Friday, by Chief Corporate Communications Officer, NNPC Limited, Andy Odeh, NNPC Limited reaffirmed its commitment to supporting the Federal Government's efforts to ease the economic burden on Nigerians.
The clarification followed a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026, regarding measures to provide relief amid rising fuel prices.
According to the company, it introduced a sales discount on October 1, 2026, to commemorate Nigeria's 66th Independence Anniversary. The initiative, which was initially scheduled to run for a limited period, has now been extended until October 31, 2026, across NNPC Retail stations nationwide.
NNPC Limited explained that the discount was a customer-focused relief measure and should not be interpreted as the reintroduction of petroleum subsidy.
The company also stressed that the initiative applies exclusively to its retail outlets and does not establish a uniform national pump price or change the existing market-based pricing framework for petroleum products.
It acknowledged that rising petrol prices have placed additional pressure on Nigerians, affecting transportation costs, business operations, household expenses and livelihoods.
The company said the discount was designed to offer direct relief to customers during the period of heightened uncertainty in the global oil market.
NNPC Limited further assured Nigerians of its commitment to maintaining a reliable supply of petroleum products while working with the Federal Government and other stakeholders to mitigate the effects of rising fuel prices.
It urged the public to disregard claims suggesting that the discount represents a return to fuel subsidy, reiterating that its operations would remain commercially responsible.
The company also pledged to continue providing clear information about its products, pricing arrangements and customer initiatives to enable Nigerians to make informed purchasing decisions.