The Nigerian National Petroleum Company Limited, NNPCL, has clarified that its ongoing petrol discount at its retail stations across the country is a temporary relief measure aimed at cushioning the effect of rising fuel prices and not a reintroduction of the petroleum subsidy regime.
The company made the clarification in a press release issued on Thursday, where it reaffirmed its commitment to supporting the Federal Government’s efforts to ease the hardship faced by Nigerians following the recent surge in global crude oil prices occasioned by the conflict in the Middle East.
According to the statement, NNPCL is fully aware of the impact of elevated crude oil prices on domestic petrol prices and the attendant pressure it has placed on households, businesses and the general economy, hence the need to provide direct relief to customers at this critical time.
The national oil company noted that the increase in petrol prices has affected virtually every aspect of daily life in Nigeria, from the cost of transportation and commuting to the expenses incurred by small and medium-scale businesses in running their operations and providing services.
It stated that it understands the strain that higher fuel prices have placed on families and livelihoods, particularly for low-income earners and those whose businesses depend heavily on petrol, and that the discount initiative was introduced to help reduce that burden, even if temporarily.
The clarification by NNPCL comes on the heels of a statement credited to the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on 8th October 2026, regarding measures being taken by the Federal Government to cushion the effect of rising fuel prices.
In line with that statement, NNPCL reiterated its readiness to continue to work closely with the Federal Government and other relevant stakeholders to mitigate the impact of escalating fuel prices on Nigerian households, businesses and the broader economy.
The company revealed that even before the minister’s announcement, it had on its own introduced a special sales discount on 1st October 2026 as part of activities to commemorate Nigeria’s 66th Independence Anniversary celebration, as a way of giving back to its customers.
It explained that the Independence Anniversary discount, which was initially meant to be a short commemorative gesture, will now be extended and sustained until 31st October 2026 across all NNPCL Retail stations nationwide to provide more meaningful relief to Nigerians.
The NNPCL emphasized that the extension of the discount period is a deliberate customer-focused initiative designed to ensure that more Nigerians benefit from the price reduction during this period of elevated global oil prices and economic uncertainty.
The company, however, was emphatic that the discount should not be misconstrued or misinterpreted as a return to the petroleum subsidy era, stressing that what is being offered is a sales discount borne by the company and not a government-funded subsidy.
It stated clearly that the initiative does not in any way signify the reintroduction of subsidy on Premium Motor Spirit, PMS, as the Federal Government’s policy on fuel subsidy removal remains intact and unchanged despite the current global market challenges.
The NNPCL explained that the difference between a discount and subsidy is significant, as subsidy involves government paying the difference between market price and regulated price, while the current discount is a commercial decision taken by the company to support its customers.
The clarification has become necessary following insinuations and speculations in some quarters that the Federal Government may have secretly reintroduced fuel subsidy through the backdoor under the guise of a discount at NNPCL filling stations.
The company urged members of the public to disregard such speculations, assuring Nigerians that it remains transparent in its operations and will continue to align with the Federal Government’s reform agenda in the petroleum sector.
It also assured customers that adequate measures have been put in place to ensure product availability at all its retail outlets throughout the duration of the discount, so that Nigerians can access the product without undue difficulty.
The NNPCL further appealed to motorists and other consumers to remain orderly at its filling stations and to avoid panic buying or hoarding, as there is sufficient stock of petrol to meet the nation’s demand during and beyond the discount period.
The company reiterated its commitment to energy security and to ensuring that Nigerians have uninterrupted access to petroleum products at affordable rates, while also supporting government policies aimed at stabilising the economy.
It called on Nigerians to continue to show understanding with the Federal Government as efforts are being intensified to address the impact of global developments on domestic prices and to implement long-term solutions that will ensure sustainable energy availability.
As the discount runs until the end of October, the NNPCL assured that it will continue to monitor the global oil market situation and will work with the government to explore further interventions that will provide relief to citizens without compromising ongoing reforms in the oil and gas sector.
