Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the Federal Government is to offer a discount on petrol dispensed by the Nigerian National Petroleum Company Limited, NNPCL, for the next 30 days.
While announcing this at a press briefing on fuel prices and subsidy questions in Abuja on Thursday, Oyedele stated that
the discount is not a subsidy, but an arrangement by the government to sell the petrol at cost.
“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. So, it’s not a subsidy, the government is just saying we sell to you at cost,” he said.
He said the discounted price of petrol at NNPCL stations would go a long way to reduce the cost of transportation and bring down the cost of living expenses, which labour leaders have argued have been made unbearable for Nigerian workers given the high cost of petrol at the pump
