Fuel price: NNPCL petrol discount not return subsidy regime – CPPE

The Centre for the Promotion of Private Enterprise, CPPE, has explained wherefore the Nigerian National Petroleum Company Limited’s (NNPCL) impermanent petrol terms discount does not magnitude to a instrumentality to the substance subsidy authorities abolished by the Federal Government.

CPPE said the inaugural was a impermanent involution to cushion Nigerians against rising petroleum prices triggered by shocks successful the planetary vigor market, alternatively than a reversal of the argumentation of petroleum subsidy removal.

The Chief Executive Officer of CPPE, Dr Muda Yusuf, stated this successful a argumentation little issued connected Tuesday, October 13, 2026, portion addressing concerns that the substance terms alleviation inaugural could undermine the government’s economical reforms.

According to Yusuf, the caller summation successful petroleum prices was driven mostly by geopolitical tensions that pushed planetary crude lipid prices supra $100 per barrel, affecting some oil-producing and oil-importing countries.

He argued that the improvement was an outer economical daze alternatively than a effect of Nigeria’s subsidy removal policy.

“Such an mentation is misleading and fails to separate betwixt a fu...