The Nigerian National Petroleum Company Limited has extended its N66-per-litre petrol discount at its retail outlets nationwide until October 31, 2026, to cushion the impact of rising fuel prices on motorists, households and businesses.
The national oil company announced the extension in a statement on Friday, October 9, insisting that the price reduction was a temporary customer-relief initiative and did not amount to a return to the petrol subsidy regime.
The discount, which took effect on October 1 to mark Nigeria’s 66th Independence Anniversary, was introduced amid rising global crude oil prices linked to the conflict in the Middle East.
NNPC’s Chief Corporate Communications Officer, Andy Odeh, said the initiative was intended to ease the financial burden of higher petrol prices on Nigerians.
The announcement followed remarks by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8.
NNPC said the discount was aimed at reducing the pressure of rising fuel costs on transportation and business operations.
“We recognise that higher petrol prices affect everyday life, from the cost of commuting to the expenses of running a business,” the company said.
“We understand the strain on families and livelihoods, and this discount is intended to provide direct relief to customers during this difficult period.”
The company, however, clarified that the discount applied only to its retail outlets and did not establish a uniform pump price across the country.
It said the initiative had not changed the market-based pricing framework governing petroleum products.
“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the statement added.
NNPC urged Nigerians to disregard interpretations suggesting that the extension signalled a return to government-funded petrol subsidies.
The company also pledged to work with the Federal Government and other stakeholders to maintain reliable fuel supply while exploring practical ways to ease the burden on consumers.
It said it would continue to communicate the terms and duration of its customer-relief initiatives to enable Nigerians to make informed purchasing decisions.
The statement was dated October 9, 2026, and published on the X account of Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy.
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