NNPC Extends Petrol Discount to October 31, Insists Subsidy Has Not Returned
National oil company says temporary price relief applies to its retail outlets and does not change Nigeria’s market-based fuel pricing system
By Reloaded News Desk
The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its petrol sales discount across its retail stations nationwide until October 31, 2026, insisting that the initiative does not amount to a restoration of fuel subsidy.
In a statement issued on Friday, October 9, NNPC said the discount, initially introduced on October 1 to mark Nigeria’s 66th Independence Anniversary, would continue as a temporary measure to ease the impact of elevated global crude oil prices on households and businesses.
The company said the decision followed a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026, concerning efforts to provide relief amid rising fuel prices linked to the conflict in the Middle East.
NNPC said the initiative was intended to provide direct relief to customers facing increased transportation and operating costs.
It stressed, however, that the discount applied specifically to NNPC Retail outlets and did not establish a uniform national petrol price or alter the market-based pricing framework for petroleum products.
“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the company said.
NNPC also urged Nigerians to disregard interpretations suggesting that the extension amounted to a return to the former petrol subsidy regime.
The company said it remained committed to maintaining reliable product supply and working with the Federal Government and other stakeholders to cushion the effect of rising fuel prices on consumers and businesses.
It added that the initiative would be implemented within commercially responsible operations, with the company providing information on the scope and duration of its customer relief measures.
The statement was signed by Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd, in Abuja on October 9, 2026.
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