SHOWTV | Nigeria | October 9, 2026
The Federal Government has announced a temporary petrol price relief measure, with the Nigerian National Petroleum Company Limited (NNPC) agreeing to forgo its retail profit margin and sell petrol at cost for 30 days.
The announcement, backed by President Bola Tinubu, is aimed at easing the pressure of rising fuel prices on Nigerian households, commuters and commercial transport operators.
According to the Presidency, if NNPC’s landing cost for petrol is ₦1,300 per litre, the company will sell it at that price without adding its usual retail profit margin.
However, the arrangement does not automatically mean that every filling station across Nigeria will sell petrol at the same price. The measure concerns NNPC Retail, while the government is separately negotiating a proposed ₦1,350-per-litre ceiling on petrol’s landing or ex-gantry cost.
Finance Minister Taiwo Oyedele has also clarified that the temporary discount is not a return to the former fuel subsidy regime, which was removed in May 2023. The discount is expected to be funded by NNPC Retail reducing its profit margin rather than through direct government payments.
The announcement comes as Nigerians continue to face high transportation costs and pressure on household spending.
Whether the relief will lead to lower transport fares and broader reductions in the cost of living remains to be seen.
SHOWTV will continue to monitor developments and bring readers verified updates as more details emerge.
What do you think about the government’s 30-day petrol relief plan? Will it make a real difference to Nigerians?
Follow SHOWTV for more verified news and updates.
No fake news here.
Comments
Post a Comment