NNPC extends Independence Anniversary N66 Per Litre Petrol Discount Until October 31

The Nigerian National Petroleum Company Limited (NNPC) has extended its N66-per-litre petrol discount until October 31, 2026, to provide relief to Nigerians amid rising fuel prices driven by global oil market uncertainties.

The company announced the extension in a statement issued on Friday by its Chief Corporate Communications Officer, Andy Odeh.

According to NNPC, the discount, which commenced on October 1 to commemorate Nigeria’s 66th Independence Anniversary, will remain available at its retail outlets nationwide until the end of October.

The extension follows the Federal Government’s renewed efforts to ease the financial burden of rising petrol prices on households, businesses and the wider economy.

On Thursday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced that NNPC would forgo its retail profit margin on petrol to offer Nigerians discounted fuel for 30 days, with priority given to public transport operators.

Although the minister did not initially disclose the exact discount, NNPC subsequently confirmed that the reduction amounted to N66 per litre.

The company, however, stressed that the initiative should not be interpreted as a return to the petrol subsidy regime, which the Federal Government abolished in May 2023.

NNPC explained that the discount was a temporary customer-relief measure designed to cushion the effects of rising fuel costs without reversing the country's market-based petroleum pricing policy.

The company also clarified that the discount applies exclusively to NNPC Retail filling stations and does not establish a uniform petrol price across Nigeria.

It added that petrol prices would continue to reflect prevailing market conditions, including international crude oil prices, foreign exchange movements, refining and distribution costs, and competition among suppliers.

The rising cost of fuel has continued to put pressure on Nigerians, particularly transport operators, traders, manufacturers and households that depend on petrol for transportation and electricity generation.

Since the removal of the subsidy, consumers have become more exposed to fluctuations in global energy markets, while the government has reduced its direct expenditure on maintaining artificially low petrol prices.

NNPC reiterated its commitment to working with the Federal Government and other stakeholders to minimise the impact of global market uncertainties on Nigerians.

The company added that it would continue to ensure reliable petroleum product supplies while maintaining commercially responsible operations.

It urged Nigerians to disregard claims that the extension represented a restoration of the subsidy regime, insisting that the measure was limited in scope and duration.

NNPC assured customers that it would continue to provide clear information about its pricing policies and customer-relief initiatives.