Former Vice President Atiku Abubakar, the Obidient Movement, the Nigeria Democratic Congress and the presidential campaign organisation of Oyo State Governor Seyi Makinde have rejected the Federal Government’s proposed 30-day petrol discount, describing the intervention as inadequate and politically motivated.
The Federal Government, however, announced on Thursday that the Nigerian National Petroleum Company Limited would forgo its retail profit margin on petrol and sell the product to Nigerians at a discounted cost as part of measures to cushion households from global crude oil price shocks.
The Presidency said the arrangement, backed by President Bola Tinubu, did not signal a return to the petrol subsidy regime, which ended on May 29, 2023.
Energy experts, however, expressed mixed reactions, with some welcoming the temporary relief while others warned that the intervention could amount to another form of subsidy if its costs were not transparently managed.