FG introduces a 30-day petrol discount at NNPC stations, setting a N1,350 ceiling to ease pressure on consumers.
The Federal Government has announced a 30-day petrol discount at NNPC Limited filling stations nationwide, with the product to be sold at a ceiling of N1,350 per litre.
The intervention is aimed at easing pressure on consumers following a sharp rise in global energy prices, with priority to be given to public transport operators.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this while briefing journalists on Thursday.
Oyedele said the government would provide a margin discount on petrol dispensed by NNPC Limited during the 30-day period.
He said the N1,350 per litre ceiling would apply to the ex-gantry or landing cost of petrol under the intervention.
According to him, the measure is designed to provide immediate relief to Nigerians while avoiding a return to the blanket fuel subsidy regime.
The minister said the intervention was prompted by the recent increase in global energy prices and the need to cushion consumers from the impact of higher petrol costs.
He stressed that the measure should not be interpreted as a return to blanket fuel subsidy.
The government says the temporary intervention will focus on providing relief to consumers while maintaining the broader policy of allowing the petrol market to operate without a blanket subsidy.