The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has announced that the Federal Government will offer a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL).
Oyedele made this known on Thursday during a press briefing in Abuja focused on fuel prices and issues surrounding petrol subsidies.
He clarified that the arrangement should not be regarded as a subsidy, explaining that the government is instead providing the petrol at cost price.
“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.