Petrol Discount Not a Return to Subsidy – Presidency

The Presidency has clarified that the National Government’s announced petrol discount is not a return to the fuel subsidy regime, warning against the circulation of false information.

Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, clarified in a post on X on Thursday.

“Before they start circulating fake news: Please get some clarity on the raft of measures announced by the Tinubu administration today,” Onanuga wrote.

He quoted the Finance Minister’s statement directly: “A margin discount at NNPC stations. We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days, with priority for public transporters nationwide.”⁠

Onanuga attached an image of a fake news graphic that claimed the government had announced the “reintroduction of subsidy on fuel sold at NNPC stations.”

The graphic was stamped “FAKE NEWS.”

The clarification followed a press briefing by Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele in Abuja.

Oyedele announced the 30-day discount as the first of several steps to ease pressure from higher petrol prices.

He repeatedly emphasised that the measure “is not a subsidy; the government is just saying we sell to you at cost.”

The government also announced forward sales of crude to domestic refineries, a negotiated ceiling of N1,350 a litre on the ex-gantry or landing cost of petrol, road tax reform, increased cash transfers, faster CNG rollout, an excess profit tax, a National Strategic Fuel Reserve and improved traffic and logistics management.

Before they start circulating fake news: Please get some clarity on the raft of measures announced by the Tinubu administration today. 𝐖𝐡𝐚𝐭 𝐭𝐡𝐞 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐝 is this:
“A margin discount at NNPC stations. We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days, with priority for public transporters nationwide.”
-Finance Minister

— Bayo Onanuga, OON, CON (@aonanuga1956) October 8, 2026