The Federal Government has announced a 30-day discount on petrol sold through NNPC Limited stations, with priority given to public transport operators.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday during a press briefing in Abuja on petrol prices and subsidy-related issues.

Oyedele said the measure was a margin discount and not a return to petrol subsidy, explaining that the government would sell petrol to beneficiaries at reduced cost.

He said the government was also negotiating a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol to reduce fluctuations in pump prices.

Under the proposed arrangement, refiners and importers would absorb any shortfall when costs rise above the ceiling and recover it when crude oil prices or the exchange rate become more favourable.

The minister said the ceiling would be reviewed monthly, with the figures published to ensure transparency.

Other measures being pursued by the government include increased cash transfers to vulnerable households, subsidised credit for small businesses and consumers, and an accelerated rollout of compressed natural gas vehicles.

Oyedele also disclosed that the Federal Government had granted a full waiver of taxes and duties on petrol, valued at more than ₦3.3 trillion for the period up to September 30, 2026.

He stressed that the measures were not intended to restore a blanket fuel subsidy, saying such a policy could create longer-term economic challenges.

The announcement comes amid varying petrol prices at NNPC stations, with the latest reported prices standing at ₦1,355 per litre in Lagos and Rivers and ₦1,370 per litre in Abuja.