NNPC Extends ₦66 Petrol Discount to October 31: What Nigerians Need to Know
NNPC has extended its ₦66-per-litre petrol discount to October 31. Here is how the deal works and what the proposed ₦1,350 price cap means.
The Nigerian National Petroleum Company Limited (NNPC) has decided to extend its ₦66-per-litre petrol discount until October 31, 2026, as the Federal Government seeks to ease the impact of rising fuel prices on households and businesses. The body confirmed the extension in a statement issued on October 9, following the government’s announcement of additional measures to cushion the cost of petrol.
This discount was initially introduced on October 1 to mark Nigeria’s 66th Independence Anniversary. However, motorists may need to use the NNPC mobile application and pay digitally to access the reduced price, according to a Punch report based on checks at retail outlets. Customers should confirm the payment requirements at their nearest NNPC station before purchasing fuel.
What Nigerians Need to Know About the ₦1,350 Petrol Price Cap
The Federal Government also proposed a ₦1,350-per-litre ceiling on petrol’s wholesale or landing cost. Under this arrangement, refiners and importers would absorb costs above the ceiling and potentially recover the difference when market conditions improve. This is not a guarantee that petrol will sell for ₦1,350 per litre at every filling station, as pump prices can vary by location and retailer.
NNPCL and the Federal Government have stressed that the discount is not a return to the former blanket petrol subsidy. For motorists, the immediate development is the extended discount through October 31, while the proposed wholesale price ceiling is a different measure intended to reduce sharp price fluctuations.
