NNPC EXTENDS PETROL DISCOUNT TO OCTOBER 31, INSISTS NO SUBSIDY RESTORATION

Oil giant says initiative is temporary customer relief amid rising global crude prices, maintains market-based pricing framework

The Nigerian National Petroleum Company Limited (NNPC Limited) has extended its petrol discount initiative to October 31, 2026, insisting that the measure is designed to provide temporary relief to consumers and does not amount to a restoration of the Federal Government’s petroleum subsidy regime.

The company said the extension was intended to cushion the impact of rising petrol prices on households, businesses and commuters amid elevated global crude oil prices linked to the conflict in the Middle East.

In a statement, NNPC Limited said it understood the pressure higher fuel costs had placed on Nigerians, particularly the rising cost of transportation, business operations and household expenditure.

The company explained that it initially introduced the discount on October 1 to commemorate Nigeria’s 66th Independence Anniversary but had decided to sustain the initiative until the end of the month.

The clarification follows a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026, regarding the Federal Government’s efforts to provide relief amid rising fuel prices.

NNPC Limited said it remained committed to collaborating with the government and relevant stakeholders to mitigate the economic consequences of higher energy costs.

“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the company stated.

It further stressed that the initiative applied specifically to NNPC Retail outlets nationwide and did not establish a uniform petrol pump price across the country.

According to the company, the discount does not alter the market-based pricing framework governing petroleum products in Nigeria.

The clarification comes amid continuing public sensitivity to petrol prices and their impact on the cost of living, transportation fares and the operating expenses of businesses.

NNPC Limited maintained that its intervention was a temporary customer-support measure intended to offer practical assistance without reversing the existing petroleum pricing policy.

The company also assured Nigerians of its commitment to maintaining reliable product supply and responsible customer service while operating on a commercially sustainable basis.

It urged the public to disregard interpretations suggesting that the discount amounted to a return to the former subsidy system, adding that it would continue to communicate the terms, duration and scope of its customer initiatives.

The petrol discount is scheduled to run through October 31, 2026, across NNPC Retail stations nationwide.

**For consumers, however, the immediate question remains how much relief the discount will provide at the pump and whether its temporary extension will meaningfully ease the wider cost-of-living pressures facing Nigerian households and businesses.**

*The Press Nigeria*