The Nigerian National Petroleum Company Limited (NNPC Ltd) has extended its petrol sales discount across its retail stations nationwide until October 31, 2026, insisting that the initiative is intended to provide temporary relief to Nigerians and does not amount to a restoration of fuel subsidy.
The company disclosed this in a statement issued on Friday, October 9, by its Chief Corporate Communications Officer, Andy Odeh, amid rising global crude oil prices linked to the ongoing conflict in the Middle East.
NNPC said the discount, initially introduced on October 1 to mark Nigeria’s 66th Independence Anniversary, would continue throughout the month to cushion the impact of rising petrol prices on households, businesses and commuters.
The clarification follows a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on October 8, 2026.
According to NNPC, the initiative aligns with the Federal Government’s efforts to ease the economic pressure associated with elevated fuel prices while maintaining a market-based petroleum pricing framework.
The company stressed that the discount applies only to NNPC Retail outlets and does not establish a uniform pump price nationwide.
“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the statement said.
NNPC acknowledged that rising petrol prices have increased the cost of transportation and business operations, placing additional pressure on household finances and livelihoods.
It said the discount was designed to offer practical support during a period of heightened uncertainty in the global oil market.
The national oil company also urged Nigerians to disregard suggestions that the initiative signals a return to the petroleum subsidy regime, maintaining that its operations remain commercially responsible.
NNPC further pledged to sustain reliable petroleum product supplies and work with the Federal Government and other stakeholders to mitigate the effects of rising fuel costs on the economy.
The company said it would continue to communicate the scope and duration of its customer relief initiatives to enable Nigerians to make informed purchasing decisions.
The extension comes amid renewed concerns over the impact of global crude oil price movements on domestic petrol prices and the cost of living.
NNPC reiterated its commitment to supporting consumers through targeted relief measures without reversing the market-based pricing framework governing petroleum products.
