The oil company says the extension will provide temporary relief to motorists amid rising fuel prices but insists the initiative is not a return to the petrol subsidy regime.

The Nigerian National Petroleum Company Limited (NNPC) has extended its ₦66-per-litre petrol discount until October 31, 2026, giving motorists three additional weeks of temporary relief amid rising fuel prices and global oil market uncertainties.

The extension means customers will continue to enjoy the discount at NNPC Retail filling stations nationwide throughout October, following the initiative’s introduction on October 1 to commemorate Nigeria’s 66th Independence Anniversary.

The company announced the extension in a statement issued on Friday by its Chief Corporate Communications Officer, Andy Odeh, following the Federal Government’s renewed efforts to cushion the impact of rising global crude oil prices on households, businesses and the wider economy.

On Thursday, October 8, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced that NNPC would forgo its retail profit margin on petrol for 30 days as part of measures to ease the financial pressure on Nigerians.

Oyedele said the initiative would prioritise public transport operators, whose fuel expenses directly affect commuting costs and the prices of goods and services.

“We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days, with priority for public transporters nationwide,” the minister said.

Although the minister did not disclose the discount amount in his announcement, NNPC subsequently clarified that its existing ₦66-per-litre discount would remain in effect until the end of October.

NNPC: Discount Is Not Petrol Subsidy

NNPC stressed that the extension should not be mistaken for a return to the petrol subsidy regime, which the Federal Government removed in May 2023.

According to the company, the initiative is a temporary customer-relief measure designed to help Nigerians cope with higher fuel costs without reversing the country's market-based petroleum pricing policy.

“Following the statement by the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on 8 October 2026, NNPC Limited reiterates its commitment to working with the government and stakeholders to cushion the impact of rising fuel prices on households, businesses and the wider economy,” the statement said

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The company explained that the discount would apply exclusively to NNPC Retail outlets and would not establish a uniform petrol pump price across Nigeria.

It added that petrol prices would continue to operate under the existing market-based framework, which allows prices to vary according to market conditions and other costs.

NNPC said it understood the burden rising petrol prices had placed on ordinary Nigerians, particularly families struggling with transportation expenses and businesses dependent on fuel for daily operations.

“We recognise that higher petrol prices affect everyday life, from the cost of commuting to the expenses of running a business. We understand the strain on families and livelihoods, and this discount is intended to provide direct relief to customers during this difficult period,” the company stated.

Rising Fuel Costs Continue to Pressure Nigerians

The extension comes as fluctuations in international crude oil prices and other market factors continue to influence domestic petrol costs.

Higher fuel prices have increased operating expenses for transporters, traders, manufacturers and other businesses, with the additional costs often passed on to consumers through higher fares and prices of goods and services.

Since the removal of the petrol subsidy, pump prices have become more exposed to market forces, including international crude oil prices, foreign exchange movements, refining expenses, distribution costs and competition among suppliers.

While the policy has reduced the Federal Government's direct spending on keeping petrol prices artificially low, it has also left consumers more vulnerable to changes in global energy markets.

NNPC said its latest intervention was intended to provide practical support during the period of heightened uncertainty while ensuring that its operations remained commercially responsible.

The company also reaffirmed its commitment to maintaining a reliable supply of petroleum products and keeping Nigerians informed about the scope and duration of its customer-relief initiatives.

It urged the public not to interpret the extended discount as a restoration of the petrol subsidy, reiterating that the measure was limited in duration and coverage.

The ₦66-per-litre discount is therefore expected to remain available at NNPC Retail filling stations until October 31, 2026, offering temporary relief to eligible customers as Nigerians continue to contend with elevated fuel costs.