NNPC petrol discount is not fuel subsidy — Finance minister
READ ALSO: NNPC filling stations to sell petrol at landing cost to cushion global oil price shocks — Presidency Government defends targeted relief Mr Oyedele said the discount was part of broader measures to reduce the pressure of high fuel prices on households and businesses without restoring a blanket subsidy.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the discount on petrol to be sold at Nigerian National Petroleum Company (NNPC) Retail stations is a commercial decision by the retailer and does not amount to a return of fuel subsidy.
PREMIUM TIMES earlier reported that Mr Oyedele warned that restoring fuel subsidy could cost Nigeria more than N20 trillion annually and put additional pressure on government finances, the naira and petrol prices.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
