The Federal Government has announced a 30-day discount on petrol dispensed by the Nigerian National Petroleum Company Limited, NNPCL, with priority for public transporters nationwide.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the announcement on Thursday at a press briefing on fuel prices and subsidy questions in Abuja.
Oyedele said the arrangement was not a subsidy, explaining that the government would sell the petrol at cost during the period.
“We are offering a discount on petrol dispensed by NNPC limited for the next 30 days in the first instance with priority for public transporters nationwide,” he said.
He added that the arrangement was intended to enable the government to sell the petrol at cost.
“So, it’s not a subsidy, government is just saying we sell to you at cost,” Oyedele said.
The minister did not provide further details on the value of the discount in the information presented at the briefing.
The discount will apply for an initial period of 30 days, with public transporters nationwide given priority under the arrangement.
Meanwhile, the Nigeria Labour Congress, NLC, has issued the Federal Government a two-week ultimatum to reduce petrol prices and begin negotiations for a new national minimum wage.
The ultimatum takes effect from Friday, October 9, following a joint meeting of the NLC’s National Executive Council and Central Working Committee in Abuja.
NLC President, Joe Ajaero, announced the position in a communiqué issued after the meeting, which focused on the country’s economic situation, rising cost of living and growing pressure on workers and other Nigerians.
The labour union said the government must use the two-week period to take concrete measures to reduce petrol prices nationwide and commence the renegotiation of the national minimum wage.
Ajaero warned that failure to meet the demands within the stipulated period would leave the NLC with no option but to take further action as directed by its relevant organs.
He said the current minimum wage had lost significant purchasing power due to the depreciation of the naira and rising living costs, making it increasingly difficult for workers to meet basic needs.
Also Read: FG advances wage talks, considers request by NLC
The NLC president demanded that negotiations for a new minimum wage begin before the end of October, arguing that workers needed a living wage that reflected prevailing economic realities.
He also called for an immediate reduction in the price of Premium Motor Spirit, popularly known as petrol, to ease the financial pressure on workers and households.
Also Read: FG advances wage talks, considers request by NLC
According to Ajaero, the high cost of petrol has contributed to increased transportation fares and higher prices for food and other essential commodities, worsening the economic difficulties faced by Nigerians.
He urged the Federal Government to reduce petrol prices to the level they were when the current national minimum wage was signed into law in 2024.
Beyond petrol prices and wages, the NLC demanded the implementation of the Terms of Settlement reached with the Joint Health Sector Unions and Assembly of Healthcare Professionals on February 5.
The union also called for the implementation of outstanding demands agreed with the Joint Public Sector Negotiating Council, alongside previously agreed tax relief measures.
Ajaero further demanded the immediate payment of outstanding wage awards to workers as a measure to cushion the impact of rising living costs.
He urged NLC affiliates and workers to remain organised and prepared to respond if the government failed to meet the demands within the two-week period.
Ajaero reaffirmed the NLC’s commitment to protecting workers’ interests and called on its affiliates and allies to remain on high alert as the ultimatum runs its course.
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