Taiwo Oyedele shares insight on 30-day fuel discount

The Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, has clarified that the 30-day petrol price discount introduced by NNPC Retail is not a return to fuel subsidy, saying the reduction is being funded entirely from the company’s profit margin.
Oyedele explained in a statement posted on his X account on Friday that the initiative, which took effect on October 1, was a commercial decision by NNPC Retail to offer temporary relief to motorists without drawing on public funds.
He said the arrangement was different from the fuel subsidy regime abolished by the Federal Government in 2023, under which public revenue was used to cover part of the cost of petrol.
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