NNPC Retail, already offering the lowest pump price, will match its landing cost ,for example N1300 , especially for commercial transporters.
The move, backed by President Bola Ahmed Tinubu, was announced by Finance Minister Taiwo Oyedele as part of a wider plan to stabilise fuel prices without returning to subsidy.
Oyedele stressed that the discount is not a reinstated subsidy but a temporary shock absorber.
Key measures unveiled include forward crude sales to domestic refineries, a proposed N1,350/litre landing‑cost ceiling, and a system where refiners absorb temporary cost spikes and recover later when crude prices ease.
The aim is to smooth pump prices and reduce volatility that fuels higher transport fares.
Under the 2025 tax reforms, the Federal Government of Nigeria is also clamping down on multiple road levies that inflate logistics costs. More support is coming through expanded cash transfers, subsidised credit, and a faster rollout of CNG, which is 60–70% cheaper than petrol.
Other interventions include an excess profit tax for operators exploiting consumers, reduced regulatory red tape, a National Strategic Fuel Reserve to prevent scarcity and hoarding, and improved urban traffic management to cut fuel consumption. NIPOST’s new address codes will also streamline logistics.
The Presidency acknowledged current hardships but insisted subsidy reversal will not be undone, warning that Nigeria cannot return to the cycle of scarcity, smuggling, currency collapse, and fiscal crisis. Government says reforms are working and will be strengthened to ensure more Nigerians feel the impact.
A broader fiscal package to push inflation down to single digits is underway.
After 30 days,what next????. 😔😔😔
ReplyDeleteThis administration is a fraud. Na why e no good to have a yahoo grandmaster as a president.
ReplyDeleteWhat will happen thereafter?
ReplyDeleteSubsidy is back but at 1350. Bastards
ReplyDeleteAfter the 30 days elapse, what happens next? This government is really confused. Make of this whatever you want, but I can tell you in all honesty that this is subsidy coming back through the back door.
ReplyDeleteNow, let's get this right. You removed subsidy on your first day in power without studying the dynamics of the sector and how best to ameliorate the suffering it would throw on Nigerians. Alright, how was the supposed money derived from the subsidy removal used? All the trillions were lavishly spent on building houses for the judiciary, funding the flamboyant lifestyle of politicians, etc. Nothing was channeled to the health sector, the education sector, or even to revamp the local refineries. The hardship keeps biting harder.
Just when the ADC presidential aspirant and NDC aspirant talked about reintroducing subsidy if they get into power, this administration suddenly drew up a one-month plan for subsidy. Who do they think they are fooling? After one month, they will extend it again. Why can't they openly admit they were wrong and tell Nigerians they are bringing subsidy back? They don't want to appear confused. It's better to err and admit it than to sneakily do things shadily. That APC has failed Nigerians is something we shouldn't be debating; the question is how do we rescue a dying Nigeria from total collapse.
If subsidy removal was really working and the best thing since sliced bread, why are they still borrowing money from the World Bank every damn time?
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