The Nigerian National Petroleum Company Limited has extended its N66-per-litre petrol discount until October 31, 2026, as Nigerians struggle with rising fuel costs.
According to The PUNCH, the oil company announced the extension on Friday in a statement issued by its Chief Corporate Communications Officer, Andy Odeh.
The promotional discount was introduced on October 1 to commemorate Nigeria’s 66th Independence Anniversary.
NNPC explained that the initiative would continue at its retail outlets across the country to provide temporary financial relief to motorists.
The announcement follows the Federal Government’s decision to introduce measures aimed at reducing the impact of rising global crude oil prices.
NNPC denies return of fuel subsidy
The company clarified that the extended discount does not represent the reintroduction of petrol subsidies, which the government removed in May 2023.
“This discount is a customer relief initiative,” the company stated.
NNPC explained that the arrangement would not establish a uniform nationwide petrol price or alter the existing market-based pricing system.
The company said fluctuations in international crude oil prices, transportation costs and distribution expenses would continue to influence petrol prices.
Finance Minister Taiwo Oyedele had earlier announced that NNPC would offer discounted petrol for 30 days, particularly to public transport operators.
NNPC maintained that its latest initiative was consistent with the government’s efforts to ease economic hardship.
It also assured customers that fuel supply and retail operations would continue under commercially responsible arrangements.
The extension offers additional relief to motorists and businesses facing increased transportation and operating expenses.
However, the discount applies to NNPC retail outlets rather than all filling stations nationwide.
