Petrol discount not subsidy restoration, NNPC insists

From Adanna Nnamani, Abuja
The Nigerian National Petroleum Company (NNPC) Limited, has clarified that its petrol discount initiative is not a restoration of the defunct petroleum subsidy, but a temporary measure aimed at cushioning the impact of rising fuel prices on Nigerians.
The company said the initiative, introduced on October 1 to commemorate Nigeria’s 66th Independence Anniversary, would run until October 31, 2026, across its retail outlets nationwide.
According to NNPC, the discount was introduced in response to rising global crude oil prices triggered by the conflict in the Middle East and their impact on domestic petrol prices.
In a statement issued on Thursday, the c...