NNPC extends petrol discount to October 31, rules out subsidy return

The Nigerian National Petroleum Company Limited (NNPC) has extended its petrol discount at retail stations nationwide until October 31, 2026, offering motorists additional relief from rising fuel costs amid surging global crude oil prices, while ruling out any return to petrol subsidy.

The discount, which took effect on October 1 to mark Nigeria’s 66th Independence Anniversary, will continue as the conflict in the Middle East drives uncertainty in global oil markets and puts pressure on domestic petrol prices.

In a statement on Friday, October 9, NNPC’s Chief Corporate Communications Officer, Andy Odeh, said the initiative was intended to ease the financial pressure on households and businesses affected by higher fuel costs.

The extension follows a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026, concerning efforts to cushion the impact of rising fuel prices on Nigerians.

NNPC acknowledged that higher petrol prices affect daily transportation costs, business operations and household expenses, stressing that the discount was designed to provide direct relief during the period of elevated global crude oil prices.

However, the company clarified that the offer does not represent a reversal of the Federal Government’s decision to remove petrol subsidy.

According to NNPC, the discount applies exclusively to its retail stations and does not establish a uniform pump price across the country. It also does not change the market-based pricing framework for petroleum products.

The company urged Nigerians to disregard any interpretation of the discount as a restoration of subsidy, adding that it remained committed to maintaining reliable fuel supplies and working with the government and other stakeholders to reduce the burden on consumers.

NNPC also pledged to communicate the scope and duration of its customer relief initiatives clearly to help Nigerians make informed purchasing decisions.

The company did not disclose the specific amount of the discount in its statement.

The offer will remain available at NNPC Retail stations nationwide until October 31, 2026.