By Abdulqadir Muhammad Alhaji
The Federal Government has announced a 30-day reduction in the price of petrol sold at NNPC Limited retail outlets, in a move aimed at easing the impact of rising fuel and transportation costs on Nigerians.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure in Abuja, saying public transport operators would receive priority under the arrangement. The National Daily Newspaper reported the minister’s remarks.
Oyedele stressed that the initiative should not be interpreted as a return to the petrol subsidy regime abolished by the government. Instead, he said, the government would sell the product at cost while providing a temporary price reduction for 30 days.
The minister said the intervention was designed primarily to support transport operators, who have been hit by rising fuel costs, and ultimately reduce the burden of expensive transportation on commuters across the country.
The announcement, however, leaves key questions unanswered. The government has not disclosed the exact pump price that will apply under the arrangement, the value of the discount per litre, or the mechanism for identifying transport operators who will benefit.
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