NNPC extends N66 petrol discount to October 31, says subsidy has not returned

The Nigerian National Petroleum Company Limited has extended its N66-per-litre petrol discount at NNPC Retail stations nationwide until October 31, 2026.

NNPC said the initiative, which began on October 1 as part of activities marking Nigeria’s 66th Independence anniversary, is intended to provide temporary relief to motorists amid higher fuel costs linked to rising global crude oil prices and instability in the Middle East.

The company stressed that the discount should not be interpreted as the Federal Government restoring the petrol subsidy regime.

NNPC Chief Corporate Communications Officer Andy Odeh said the company was responding to the pressure higher petrol prices were placing on transportation, businesses and household expenses.

Discount applies at NNPC Retail stations

NNPC clarified that the arrangement applies specifically to its retail network and does not create a single national petrol price.

Pump prices may therefore continue to vary by location despite the N66 discount.

The company also said the initiative does not change Nigeria’s existing market-based pricing framework for petroleum products.

That clarification follows comments by Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele, who announced temporary petrol-price relief on Thursday and said public transport operators would receive priority under the intervention.

NNPC denies return of petrol subsidy

Speculation about a possible subsidy return followed the announcement of the temporary price reduction.

NNPC, however, described the measure as a customer relief initiative, insisting that it was not a reversal of the government’s market-pricing policy.

The company said it would continue working with government and industry stakeholders to maintain reliable fuel supply while providing temporary relief to consumers

The discount is currently scheduled to end on October 31, unless NNPC announces another extension.