The Nigerian National Petroleum Company Limited (NNPC) has increased its petrol pump price from ₦1,370 to ₦1,405 per litre, raising fresh questions about the implementation of the Federal Government’s temporary fuel discount initiative.
The latest adjustment, which took effect on Friday, October 16, represents an increase of ₦35 per litre, just days after the state-owned oil company reportedly reduced its price to ₦1,370 per litre.
Some filling station attendants said the new price was communicated to them on Thursday before implementation the following day.
NNPC had yet to publicly explain the reason for the latest adjustment as of the time of reporting.
The development comes amid growing controversy over the Federal Government’s 30-day petrol discount scheme, introduced to ease the impact of rising fuel prices on Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the initiative earlier this month, explaining that it was designed to provide temporary relief to consumers without reinstating the petrol subsidy removed in May 2023.
Under the arrangement, NNPC Retail is offering a discount by reducing its retail profit margin. The company has maintained that the initiative is a customer-relief measure and does not amount to a return to fuel subsidy.
However, reports from NNPC filling stations indicated that motorists paying directly at the pumps were being charged ₦1,405 per litre, while eligible customers using the company’s mobile application and paying digitally could access a discounted price of ₦1,339 per litre.
The arrangement has raised concerns about accessibility, particularly for motorists who may not have smartphones, reliable internet access or the means to make digital payments.
The Federal Government has also announced plans to negotiate a ceiling on petrol’s ex-gantry or landing cost to help reduce the impact of fluctuations in global crude oil prices and foreign exchange rates.
The proposed ceiling applies to the price at which petrol is supplied to marketers before additional distribution and retail costs. It should not be confused with the pump price paid by motorists.
NNPC has said its temporary discount would remain in place until October 31, 2026, while reiterating that the initiative does not represent a reinstatement of petrol subsidy.
The latest price increase has renewed scrutiny of the relief measures as Nigerians continue to contend with high transportation costs and the wider effects of expensive fuel on household spending and business operations.
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