{"id":293,"date":"2026-10-12T20:31:02","date_gmt":"2026-10-12T20:31:02","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/12\/minister-defends-nnpc-petrol-discount-says-its-not-return-to-subsidy\/"},"modified":"2026-10-12T20:31:02","modified_gmt":"2026-10-12T20:31:02","slug":"minister-defends-nnpc-petrol-discount-says-its-not-return-to-subsidy","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/12\/minister-defends-nnpc-petrol-discount-says-its-not-return-to-subsidy\/","title":{"rendered":"Minister defends NNPC petrol discount, says it’s not return to subsidy"},"content":{"rendered":"

The Minister of Information, Mohammed Idris, has defended the Nigerian National Petroleum Company Limited\u2019s<\/a><\/strong> (NNPC) 30-day petrol discount initiative, saying it is intended to provide temporary relief to Nigerians amid rising global energy costs.<\/p>\n

Mr Idris said the decision did not represent a return to fuel subsidy, explaining that the NNPC had opted to forgo some of its profits to cushion the impact of higher petrol prices on consumers.<\/p>\n

\u201cThe NNPC has looked at it and said we are making this much profit. Why can\u2019t we forgo some of the profit that we are making, so that Nigerians will have some form of cushioning?\u201d he said.<\/p>\n

The minister made this point during a media chat with senior editors and journalists on Monday, where he highlighted the government\u2019s economic reforms and their impact on key indicators.<\/p>\n

The NNPC\u2019s discount has attracted criticism from opposition politicians, labour leaders and other stakeholders, who have questioned its duration, reach and potential impact on households struggling with the cost of living.<\/p>\n

Former Vice President Atiku Abubakar has criticised the initiative, describing it as a politically motivated measure that would offer only temporary relief ahead of the 2027 general elections.<\/p>\n

\n\"PT<\/a><\/div>\n
\"Dangote<\/a><\/div>\n

Atiku also questioned the decision to make NNPC Limited bear the cost of the discount, asking whether the company\u2019s board approved the arrangement and how the financial implications would be reflected in its accounts.<\/p>\n

He questioned the government\u2019s handling of the state-owned oil company, which operates as a commercial entity under the Petroleum Industry Act.<\/p>\n

He also challenged the government to explain the cost of the discount and how it would benefit motorists outside the NNPC retail network, which is less than half of the total filling stations across the country.<\/p>\n

The president of the Trade Union Congress, Festus Osifo, and Social Democratic Party presidential candidate Adewole Adeboye have also questioned the policy. The TUC\u2019s concerns include its implementation and whether the arrangement amounts to a form of subsidy despite the government\u2019s position.<\/p>\n

In his remarks, the minister acknowledged the pressure of rising energy costs on households and businesses, adding that the federal government remained committed to expanding access to affordable energy alternatives and strengthening domestic production.<\/p>\n

Mr Idris said rising energy costs were a global challenge, with governments adopting different approaches to protect their economies and cushion the impact on citizens.<\/p>\n

He said President Bola Tinubu remained committed to economic reforms while prioritising the welfare of Nigerians.<\/p>\n

\u201cOur approach is to consolidate the gains of these reforms, expand affordable energy alternatives, strengthen domestic production and create the conditions for sustainable reductions in the cost of living,\u201d he said.<\/p>\n

According to the minister, the administration is working to ensure that the benefits of economic recovery translate into greater affordability, improved purchasing power and better living conditions.<\/p>\n

Reforms<\/strong><\/h3>\n

Mr Idris said the achievements of the Renewed Hope Agenda over the last three years were evident across the eight presidential priority areas, including economic growth, national security, agriculture, energy, infrastructure, education, healthcare, industrialisation and governance.<\/p>\n

He said the administration\u2019s economic reforms were restoring stability and confidence, while investments in infrastructure were opening new opportunities and agricultural initiatives were strengthening food production.<\/p>\n

He added that security operations were addressing threats to lives and livelihoods, while investments in education and healthcare were expanding access to essential services.<\/p>\n

The minister said the government intended to consolidate these gains and ensure that the benefits of its reforms reached more Nigerians.<\/p>\n

\u201cThere is certainly more work to be done, but there is equally substantial progress to build upon,\u201d he said.<\/p>\n

Oil production, exports<\/strong><\/h3>\n

Mr Idris said the decline in oil theft and a significant increase in crude oil production had boosted revenue for the federal, state and local governments.<\/p>\n

He also said Nigeria earned more than $6 billion from non-oil exports in 2025, describing it as the highest amount in the country\u2019s history.<\/p>\n

According to him, the earnings supported businesses in agriculture, mining, petrochemicals, manufacturing, processing and logistics.<\/p>\n

He added that the foreign exchange market had stabilised, allowing businesses and investors to plan with greater confidence.<\/p>\n

READ ALSO:\u00a0NNPC petrol discount is not fuel subsidy \u2014 Finance minister<\/a><\/strong><\/h3>\n

Mr Idris said the government\u2019s next task was to ensure that the gains from the economic recovery reached more households and improved their purchasing power.<\/p>\n

He said the government welcomed scrutiny from journalists but urged them to provide context when reporting the economic difficulties Nigerians face, alongside the government\u2019s reported achievements and the challenges that remain.<\/p>\n

\u201cFinally, my dear colleagues, we are not asking you to stop scrutinising the government. Your scrutiny makes us better. What I ask for is clarity and context: that the pressures Nigerians feel are reported alongside their causes, the progress being made and the work that remains,\u201d he said.<\/p>\n

\u201cOur shared interest is an informed public and a stronger Nigeria.\u201d<\/p>\n

<\/p>\n

\n
\n

Share this:<\/h3>\n<\/div>\n<\/div>\n
\n
\n
\n
\n

Discover more from Premium Times Nigeria<\/h3>\n

Subscribe to get the latest posts sent to your email.<\/p>\n<\/div>\n<\/div>\n

<\/p><\/div>\n

Source: <\/p>\n

News Archives | Premium Times Nigeria<\/div>\n","protected":false},"excerpt":{"rendered":"

The Minister of Information, Mohammed Idris, has defended the Nigerian National Petroleum Company Limited\u2019s (NNPC) 30-day petrol discount initiative, saying it is intended to provide temporary relief to Nigerians amid… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-293","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=293"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/293\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}