Nigeria announces 30-day NNPC petrol discount window
The announced sales-at-cost window prioritizes public transporters; a ₦1,350-per-litre ceiling was still under negotiation.
- Publish date: 2026-10-08
- Category: Oil & Gas
- Original source: Nairametrics
- Reading time: 1 min read
Finance Minister Taiwo Oyedele announced a 30-day discount window on petrol sold by NNPC, prioritizing public transporters, and described it as sales at cost rather than a subsidy. The government was also pursuing forward crude sales to domestic refineries; US$80 per barrel for 6 months was an illustrative example, not a confirmed contract price.
Oyedele said the government was negotiating a ₦1,350-per-litre ceiling on petrol ex-gantry or landing cost. Refiners and importers would carry any excess cost and recoup it later, with the ceiling reviewed monthly. The announcement did not report implementation results or a finalized crude-sale contract.