The Federal Government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited, with public transport operators to receive priority under the arrangement.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing on petrol prices and subsidy-related issues in Abuja.

Oyedele said the arrangement was not a return to petrol subsidy, explaining that the government would instead allow petrol to be sold at cost through NNPC.

“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.

The announcement comes as petrol prices at NNPC stations vary across the country. NNPC’s latest reported price list puts the pump price at N1,355 per litre in Lagos and Rivers, while Abuja is listed at N1,370 per litre.

More details shortly…