The Federal Government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL), with priority given to public transport operators nationwide.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the initiative on Thursday during a press briefing on fuel prices and subsidy-related issues in Abuja.

Oyedele explained that the arrangement was not a return to petrol subsidy but a government initiative to sell the product at cost during the period.

“We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days in the first instance, with priority for public transporters nationwide,” the minister said.

He added, “So, it’s not a subsidy, government is just saying we sell to you at cost.”

The initiative is expected to prioritise public transport operators, although the government has yet to provide further details on the discount rate, the pump price under the arrangement and the specific conditions for accessing the discounted petrol.

The announcement comes amid continuing concerns over the cost of petrol and its impact on transportation expenses and the general cost of living.

Further details on the implementation of the initiative are expected from the Federal Government.

Details follows...