The Federal Government has announced a 30-day petrol price intervention programme aimed at cushioning the impact of rising fuel costs on Nigerians, while insisting that the measure does not signal a return to the fuel subsidy regime.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the initiative while briefing journalists on Thursday.
Under the arrangement, petrol will be sold at NNPC Limited retail stations nationwide at a discounted rate, with a ceiling of N1,350 per litre. The government said priority access would be given to public transport operators to help reduce transportation costs.
Oyedele explained that the intervention would be implemented through a temporary margin discount on petrol supplied by NNPC Limited over the next 30 days.
According to him, the move is designed to provide immediate relief to consumers in the face of increasing global energy prices while avoiding the fiscal burden associated with blanket fuel subsidies.
The minister emphasized that the government remains committed to market-based reforms in the petroleum sector but recognizes the need for targeted measures to ease economic pressures on citizens.
He noted that the temporary price support initiative forms part of broader efforts by the administration to mitigate the impact of global fuel market volatility and protect vulnerable Nigerians from escalating transportation and living costs.
The Federal Government maintained that the intervention is a short-term relief mechanism and should not be interpreted as a reversal of its fuel subsidy removal policy.
