NNPC extends N66 petrol price cut to October 31, dismisses subsidy return

The Nigerian National Petroleum Company Limited (NNPC) has extended its ₦66-per-litre petrol discount until October 31, 2026, amid rising fuel prices linked to the Middle East conflict.

According to PUNCH, the company announced the extension on Friday through its Chief Corporate Communications Officer, Andy Odeh.

The discount, introduced on October 1 to commemorate Nigeria’s 66th Independence Anniversary, applies to NNPC retail outlets nationwide.

The company clarified that the initiative was designed to ease financial pressure on Nigerians without restoring the petrol subsidy removed in May 2023.

“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” NNPC stated.

It explained that the discount would not establish a uniform national pump price or alter the existing market-based pricing system.

The extension follows the Federal Government’s announcement of measures to cushion households and businesses against rising global crude oil prices, with priority support for public transport operators nationwide.