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The Nigerian National Petroleum Company Limited has restricted access to its ₦66-per-litre petrol discount to customers who use its mobile application for payment, leaving motorists who pay directly at filling stations unable to enjoy the price reduction.
Findings at NNPC retail outlets in Abuja showed that petrol sold for ₦1,405 per litre at the pump, while customers who purchased through the company’s mobile application paid ₦1,339 per litre. The arrangement means motorists must download the application and complete their transactions digitally to benefit from the offer.
The oil company could give up an estimated ₦4.62bn in gross revenue if the discount applies to its reported monthly sales volume of 70 million litres. At the regular price, the volume would generate approximately ₦98.35bn, compared with ₦93.73bn at the reduced rate.
The Federal Government introduced the initiative to ease the financial pressure of rising petrol prices on households, businesses and commercial transport operators. Initially launched on October 1 to mark Nigeria’s 66th Independence Anniversary, the promotion has been extended until October 31.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, explained that the arrangement was not a return to the fuel subsidy regime abolished in 2023. He said NNPC was reducing its retail profit margin to provide temporary relief to consumers rather than relying on government funds to lower petrol prices.
The minister also warned against restoring the former subsidy system, estimating that it could cost the Federal Government about ₦20tn annually. He maintained that the current initiative was designed to offer short-term relief while preserving market-based petrol pricing and protecting public finances.
