Opposition rejects FG’s 30-day petrol discount

Former Vice President Atiku Abubakar, the Obidient Movement, the Nigeria Democratic Congress (NDC) and the presidential campaign organisation of Oyo State Governor Seyi Makinde have rejected the Federal Government’s 30-day petrol discount, calling it inadequate and politically motivated, according to Punch.

The government announced on Thursday that NNPC Limited would forgo its retail profit margin and sell petrol at a discount, with priority for public transport operators. Finance Minister Taiwo Oyedele said the move is neither a subsidy nor a price control. The Presidency added that it is negotiating a N1,350-per-litre ceiling on landing cost.

Atiku called the scheme a “panic-driven publicity stunt” and asked what happens on Day 31. The Obidient Movement linked the timing to the 2027 elections, while the NDC dismissed it as “tokenism.” Makinde’s campaign described the N60-per-litre discount as “microscopic” and limited to NNPC stations.

Energy experts were divided. Jeremiah Olatide, CEO of PetroleumPrice.ng, welcomed the move but said the N1,350 ceiling is too high and should be N1,000. Professor Wumi Iledare warned that it could become another subsidy if the government absorbs NNPC’s losses, and urged transparency on costs and financing.

Oyedele said the exact discount is yet to be determined and will be reviewed after 30 days. He warned that restoring the subsidy could cost over N20tn annually. NNPC Group CEO Bayo Ojulari said discounting has already begun.