‘Not subsidy’: Oyedele explains NNPC retail’s 30-day petrol discount

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has clarified that the 30-day petrol discount introduced by NNPC Retail is not a return to fuel subsidy.

In a statement shared on his X platform, Oyedele stated that the relief is funded entirely from the company’s profit margin without utilizing public funds.

Motorists have enjoyed lower prices at NNPC stations since October 1, 2026, following the reduction in retail margins. According to Vanguard, Oyedele explained that unlike a government-funded subsidy, a margin discount means the retailer voluntarily forgoes profits to lower costs.

“The cost of the discount is borne by the retailer alone,” he said, adding that prices remain market-reflective.

He noted that increased sales volumes could offset lower earnings per litre, ultimately boosting dividends for the federation while easing burdens on consumers and commuters.