According to a report by Daily Post on October 22, 2026, two weeks after Finance Minister Taiwo Oyedele announced the plan, the Federal Government still hasn’t put the ₦1,350 per liter petrol price at Nigerian National Petroleum Company Limited (NNPCL) filling stations into action.
On October 8, Oyedele proposed a discounted petrol price to protect Nigerians from global oil price fluctuations, but he stressed that it was not a fuel subsidy.
Some Nigerians welcomed the policy, while others were skeptical.
However, Daily Post checks at NNPCL filling stations in Abuja and surrounding areas showed that the proposed price reduction had not taken effect 14 days after the announcement.
Instead of the proposed ₦1,350 per liter, most NNPCL outlets sold petrol at ₦1,405 per liter.
NNPCL raised its pump price from ₦1,370 to ₦1,405 per liter by ₦35 since Oyedele announced the proposed arrangement, according to the report.
Other filling stations reported petrol prices between ₦1,395 and ₦1,429 per liter, preventing motorists from benefiting from the proposed discount.
In response, IPMAN President Abubakar Maigandi said the proposed price would have benefited motorists.
Maigandi hoped the government would proceed with the arrangement and added that independent petroleum marketers should be included if the discounted price was implemented.
He thought NNPCL and other marketers would have benefited from the proposal.
In May 2023, President Bola Tinubu’s administration eliminated the petrol subsidy, sparking debate over its effects on Nigerians and the cost of living.
In the run-up to the 2027 presidential election, the topic is also starting to get some attention.
African Democratic Congress (ADC) presidential candidate Atiku Abubakar has pledged to lower gasoline prices if elected on January 16, 2027.
Atiku and 16 other presidential candidates are challenging Tinubu for a second term.
SOURCE: Kofo_News
