UTELNOVA

ABUJA, Nigeria — The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its ₦66-per-litre petrol discount across its retail filling stations nationwide until October 31, 2026, in a move aimed at easing the burden of rising fuel prices on Nigerians.

The company announced the extension on Friday, October 9, following growing concerns over the impact of high petrol prices on households, commercial transport operators and businesses.

According to NNPC, the discount was initially introduced on October 1 to mark Nigeria’s 66th Independence Anniversary. The company said the initiative would continue throughout October to provide temporary relief to motorists amid rising international crude oil prices.

How much are Nigerians paying for petrol?

Recent reports show that petrol prices vary across filling stations and locations.

At selected NNPC stations in Abuja, motorists were reportedly paying ₦1,405 per litre when purchasing directly at the pump, while customers using the NNPC mobile application paid ₦1,339 per litre.

In Lagos, some NNPC outlets were reported to be selling petrol at around ₦1,360 per litre, while selected MRS stations offered prices around ₦1,338 per litre.

These figures are location-specific and may change as supply costs and market conditions fluctuate. Motorists are advised to confirm prices at their nearest filling stations before travelling.

Why is the discount important?

The temporary price relief comes at a time when rising global crude oil prices are putting additional pressure on Nigeria’s petroleum market.

Although Nigeria has domestic refining capacity, petrol prices remain influenced by crude oil costs, exchange rates, transportation expenses and other market factors.

The higher cost of fuel also affects public transportation, food distribution and the operation of businesses that depend on petrol-powered generators.

For many Nigerians, even a modest reduction in the price of a litre of petrol could provide some relief when multiplied across daily transportation and business expenses.

Is the petrol subsidy returning?

NNPC has clarified that the discount does not represent a return to the former petrol subsidy regime.

The company explained that the initiative is a temporary customer-relief measure intended to cushion the effects of elevated global oil prices. It also said the discount does not establish a uniform pump price across the country.

The Federal Government has separately discussed measures to reduce the pressure of rising fuel costs, including a temporary arrangement under which NNPC Retail would forgo its retail profit margin.

What should motorists know?

Motorists should note that the advertised discount may not automatically apply to every transaction at the pump. Reports indicate that customers may need to use the NNPC mobile application and pay digitally to access the discounted rate at participating outlets.

The discount is expected to run until October 31, 2026, according to NNPC’s announcement.

As Nigerians continue to grapple with high living costs, attention will remain on whether the temporary relief will translate into lower transportation costs and more affordable goods and services.

Utelnova will continue to monitor developments in petrol prices and bring readers the latest updates.

Source: NNPC Ltd; reports by Punch and Vanguard.