The Federal Government’s 30-day petrol discount at NNPC stations has drawn criticism from labour leaders, opposition parties and economists who say it offers no meaningful relief.
The intervention announced Wednesday targets public transporters with petrol at N1,350 per litre. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, clarified that the N1,350 is a ceiling on ex-gantry/landing cost, not a fixed pump price, aimed at shielding consumers from swings in crude prices and exchange rates.
But stakeholders questioned the impact. According to NMDPRA data, average pump price was N1,271 in July, N1,294 in August and N1,378 in September – a 3-month average of N1,315, just below the discount price. Critics also noted NNPC stations account for only about 900 of 22,700 filling stations nationwide (4%).
Petroleum economist Prof. Wumi Iledare said the policy only works if savings reach passengers, and demanded disclosure of discount per litre, volume covered and fiscal exposure. CPPE CEO Muda Yusuf described it as a subsidy by another name.
Former Vice President Atiku Abubakar rejected the scheme as “election-laced”, while the Obidient Movement called it tokenism. The Makinde/Daura Campaign Organisation described it as deceitful.
NLC Assistant General Secretary Chris Onyeka called N1,350 a “wicked set-up” and demanded a price below N1,000. Labour leaders and PETROAN urged wider distribution and long-term fixes, including local refinery rehabilitation.
Legal expert Olisa Agbakoba proposed a crude price differential to enable petrol at about N400 per litre.
The Federal Government said the discount is temporary while it pursues forward crude sales to stabilise prices.