The Federal Government has announced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL), with public transport operators set to receive priority under the temporary arrangement.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the measure during a press briefing in Abuja on Thursday, explaining that the initiative is not a return to fuel subsidy.
According to Oyedele, the government intends to make petrol available at cost for an initial period of 30 days, after which the arrangement will be reviewed to determine the next course of action.
The initiative comes amid concerns over rising fuel prices and their impact on transportation fares, household expenses and business operations across the country.
The government is expected to assess the outcome of the temporary measure before deciding whether to extend or modify the arrangement.
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