Petrol discount: NNPCL pump price stays at N1,370

Petrol is still selling at N1,370 per litre at NNPC Limited filling stations, a day after the Federal Government proposed a discounted price of N1,350 per litre, according to Daily Post.

A market survey by the outlet on Friday found that NNPCL retail outlets in Abuja and its environs were dispensing petrol at a flat rate of N1,370 per litre. On Thursday, Finance Minister Taiwo Oyedele announced a proposal to benchmark the petrol price at N1,350 per litre for 30 days. The proposed price is N20 lower than the N1,370 per litre charged at NNPCL outlets before the announcement.

Oyedele clarified that the proposed price does not amount to a fuel subsidy. President Bola Tinubu’s administration and NNPCL, in separate statements, affirmed his position.

However, opposition figures, including Atiku Abubakar of the African Democratic Congress (ADC), have rejected the 30-day initiative. Atiku’s allies also criticised the move, describing it as a desperate measure and a political gimmick, as well as a return of fuel subsidies disguised as a discount.

Beyond the political reactions, petroleum marketers and retailers have described the initiative as beneficial to Nigerians. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have urged the Federal Government to extend the N1,350-per-litre price to other filling stations to ensure wider coverage.