The Federal Government has announced a 30-day petrol price discount at Nigerian National Petroleum Company Limited (NNPC) filling stations, with priority given to public transport operators, in a move aimed at reducing transportation costs nationwide.
However, former Vice-President Atiku Abubakar has criticised the initiative, describing it as an election-related measure that offers only temporary relief from the high cost of living.
Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, announced the discount on Thursday, October 8, 2026, during a press conference in Abuja.
Oyedele said the initiative would initially run for 30 days and prioritise public transport operators to help ease the financial pressure on Nigerians.
“We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days in the first instance, with priority for public transporters nationwide,” he said.
The minister clarified that the arrangement was not a return to the petrol subsidy regime, explaining that the government intended to sell the product at cost during the period.
“So it’s not a subsidy, the government is just saying we sell to you at cost,” Oyedele added.
Reacting to the announcement, Atiku condemned the proposed discount, describing it as a temporary intervention that would not address the underlying causes of rising living costs.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the African Democratic Congress (ADC) Presidential Campaign Council, Atiku accused President Bola Tinubu’s administration of offering short-term relief after years of economic hardship.
He argued that the timing of the announcement raised questions about the government’s intentions as the next election approaches.
“Now, as the election draws closer, President Tinubu is dangling a temporary discount at the very epicentre of the cost-of-living crisis that has tormented households and businesses,” Atiku said.
The former vice-president rejected the initiative, arguing that Nigerians should not be expected to accept a month of discounted petrol as a solution to sustained increases in fuel prices, transportation fares and food costs.
He questioned what would happen after the 30-day period, warning that consumers could return to paying the same high prices once the discount expires.
“What happens on Day 31? Nigerians wake up to the same brutal prices, the same punishing transport fares and the same rising cost of food,” he said.
Atiku also questioned the scope of the intervention, noting that the discount would apply to petrol sold at NNPC stations. He said the government had yet to disclose the amount consumers would save per litre or explain how it would ensure that transport operators passed the savings on to passengers through lower fares.
Atiku further argued that the government’s decision to introduce the temporary discount demonstrated that intervention to reduce fuel costs was possible, contrary to what he described as the administration’s previous position.
“This volte-face proves that the production-support proposal I have advanced is workable, achievable and not complicated,” he said.
He maintained that his proposal for capped and budgeted production support tied to fuel refined locally could provide a more sustainable approach to reducing costs, while supporting domestic refineries and ensuring that consumers benefit.
“Nigerians need lasting relief, not a countdown to the return of hardship. Tinubu’s government cannot spend years telling Nigerians to endure, then offer 30 days of relief and call it a solution,” Atiku said.
He also restated his commitment to reducing the cost of living, declaring: “Tinubu made life expensive. I will make life affordable again.”
Oyedele also disclosed that the Federal Government plans to sell crude oil to domestic refiners at $80 per barrel over the next six months.
According to the minister, the arrangement is intended to provide greater certainty for refiners and help shield consumers from fluctuations in international oil prices.
He said increased crude oil production and the release of previously committed crude would support forward sales to domestic refineries.
“These will shield pump prices from volatility in the global markets. So the idea we have is an idea that is sustainable. You can sell your crude forward,” he said.
Oyedele added that selling crude at a predetermined price would help refiners plan their operations and improve price stability for consumers.
“That preserves your budgets, provides certainty to the refiners and price stability to the consumer,” he said.
The government has yet to disclose the specific discount per litre or provide details on how the scheme will operate at NNPC filling stations.
The effectiveness of the initiative will depend on its implementation and whether any savings made by public transport operators translate into lower fares for passengers.
Atiku, meanwhile, insists that a 30-day discount will not resolve the broader cost-of-living crisis and has called for a longer-term approach to reducing fuel costs and supporting domestic refining.
