[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1haha5ahsyuls":3,"$fmlnh87nmn4r":49,"$f3g2vfgazl5es6":86,"$f9gu6o9jcsxdi":138,"$f3e3jbbcdn2vfp":1847,"$f5btqexddoxme":1940},{"status_code":4,"message":5,"data":6},200,"Top navigation retrieved successfully",[7,13,19,25,31,37,43],{"id":8,"createdAt":9,"updatedAt":10,"name":11,"slug":12},"b2fd4aec-5546-486a-a3f4-eea60b1434f5","2026-03-26T09:17:24.918Z","2026-04-23T08:59:18.000Z","Hot Topics","hot-topics",{"id":14,"createdAt":15,"updatedAt":16,"name":17,"slug":18},"61adefb2-a0a9-4d1d-a02a-7168a954b173","2026-03-26T09:12:43.334Z","2026-05-21T22:16:04.000Z","Politics","politics",{"id":20,"createdAt":21,"updatedAt":22,"name":23,"slug":24},"412ac379-b7f4-41e6-9284-1b23abd75193","2026-03-26T09:08:28.975Z","2026-04-22T15:05:10.000Z","Global Updates","global-updates",{"id":26,"createdAt":27,"updatedAt":28,"name":29,"slug":30},"01411baa-e805-4390-8629-929c4f90c093","2026-03-25T11:58:27.451Z","2026-05-21T11:24:07.000Z","Entertainment","entertainment",{"id":32,"createdAt":33,"updatedAt":34,"name":35,"slug":36},"f533efbb-008f-4539-9a0b-c6f71297a9f4","2026-03-25T11:41:34.472Z","2026-05-21T16:44:38.000Z","Business","business",{"id":38,"createdAt":39,"updatedAt":40,"name":41,"slug":42},"556591a5-3420-482a-9592-6b4ae49829b3","2026-03-25T11:40:22.480Z","2026-05-21T16:39:17.000Z","Sports","sports",{"id":44,"createdAt":45,"updatedAt":46,"name":47,"slug":48},"07a1a269-9188-41fc-9145-0ab7ca6d29e6","2026-03-25T11:39:56.272Z","2026-05-21T16:37:48.000Z","Africa","africa",{"status_code":4,"message":50,"data":51},"List of Posts retrieve successfully",{"id":52,"createdAt":53,"updatedAt":54,"title":55,"excerpt":56,"content":57,"slug":58,"topic":59,"tags":64,"image":73,"author":74,"feed":75,"views":82,"type":83,"readTime":84,"externalSourceUrl":85},"3e1f1e77-9a83-43e9-9889-4e9d4c5cbe8a","2026-10-09T07:50:00.332Z","2026-10-09T10:30:42.000Z","Fuel Discount: Obidient Movement faults FG, backs subsidy restoration","By Henry Umoru ABUJA — The Obidient Movement has faulted the Federal Government’s 30-day petrol discount initiative, questioning the figures used to calculate fuel-related interventions and accusing the government of failing to provide sufficient transparency in the management of the petroleum sector. The movement said the temporary discount raised questions about the government’s position on […]\nThe post Fuel Discount: Obidient Movement faults FG, backs subsidy restoration appeared first on Vanguard News.","\u003Cimg width=\"476\" height=\"421\" src=\"https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2026\u002F06\u002FWhatsApp-Image-2026-06-14-at-6.06.45-PM-e1787317103560.jpeg\" class=\"attachment-large size-large wp-post-image\" alt=\"Fuel Discount: Obidient Movement faults FG, backs subsidy restoration\" decoding=\"async\" srcset=\"https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2026\u002F06\u002FWhatsApp-Image-2026-06-14-at-6.06.45-PM-e1787317103560.jpeg 476w, https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2026\u002F06\u002FWhatsApp-Image-2026-06-14-at-6.06.45-PM-e1787317103560-300x265.jpeg 300w\" sizes=\"(max-width: 476px) 100vw, 476px\" \u002F>\n\u003Cp class=\"wp-block-paragraph\">By Henry Umoru\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">ABUJA — The Obidient Movement has faulted the Federal Government’s 30-day petrol discount initiative, questioning the figures used to calculate fuel-related interventions and accusing the government of failing to provide sufficient transparency in the management of the petroleum sector.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement said the temporary discount raised questions about the government’s position on fuel subsidy following its decision to remove the scheme, arguing that Nigerians deserved affordable petrol and accountability in the use of public funds.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It also said the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, would restore fuel subsidy if elected, but under what it described as a transparent, accountable and verifiable framework designed to ensure Nigerians pay half the reference price of petrol.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement’s position was contained in a statement issued on Friday by its Head of Media and Communications Directorate, Onyeka Dike.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It accused the All Progressives Congress (APC)-led Federal Government of insisting for years that subsidy removal was necessary while Nigerians endured the resulting economic hardship.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">According to the movement, the government’s latest announcement of a 30-day petrol discount raises questions about the basis for calculating fuel consumption and the financial implications of interventions in the sector.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It argued that Nigerians should not have to choose between affordable petrol and accountable governance.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“The Obidient Movement believes that Nigerians deserve affordable petrol without the corruption, secrecy and criminality that have characterised the management of fuel subsidy in Nigeria,” the statement said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“Under a Peter Obi administration, fuel subsidy will be restored, but not as a vehicle for enriching a privileged cartel at the expense of the Nigerian people. It will be a transparent, accountable and verifiable system that guarantees Nigerians pay half the price of petrol.”\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement questioned the reported daily petrol consumption figures used by government officials, contrasting President Bola Tinubu’s September 2024 statement that consumption had fallen to around 30-something million litres daily following subsidy removal with Finance Minister Taiwo Oyedele’s reported estimate of approximately 50 million litres daily in October 2026.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“How did Nigeria move from thirty-something million litres to 50 million litres? Where is the independently verifiable data supporting this figure?” it asked.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement argued that discrepancies in consumption figures required clarification, particularly where the volume of petrol reportedly consumed could influence the cost of public interventions.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It called on the Federal Government to publish the data supporting its estimates, explain the methodology used to calculate daily consumption and allow independent verification.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The group maintained that the previous subsidy regime was undermined by disputed consumption figures, difficult-to-verify claims and opaque financial arrangements involving government institutions and petroleum operators.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It said Nigerians deserved to know how much public money was being spent on fuel interventions, the basis for the payments, who received the funds and the quantity of petrol actually delivered to consumers.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Obi proposes half-price petrol policy\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Outlining its proposed alternative, the movement said an Obi administration would introduce a “Half Price Policy” under which Nigerians would pay half of an independently determined reference price for petrol.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">According to the statement, the reference price would be published weekly by an independent panel using international benchmarks, freight costs and verified domestic costs.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement said subsidy payments would be tied to actual, verified sales, with no refiner, depot operator or marketer receiving reimbursement for petrol that had not been sold to consumers through metered filling station pumps.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It also proposed digital tracking to establish an auditable trail from refinery gates to filling stations and prevent inflated claims and fictitious consumption from qualifying for payment.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">On domestic refining, the movement said access to Nigerian crude oil for local refineries should operate under transparent and fair rules that do not favour a single company or privileged group.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It argued that competition and accountability should replace opaque arrangements in the petroleum industry.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The proposed framework would also require legislative and budgetary approval by the National Assembly, alongside monthly public reports detailing the reference price, volumes sold, subsidy payments, beneficiaries, breaches, penalties, recoveries and independent audit findings.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement said public funds should not be concealed in Nigerian National Petroleum Company Limited (NNPCL) accounts under unexplained labels such as under-recovery.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Movement alleges subsidy continues under different names\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The group further accused the APC-led government of continuing subsidy-like payments under different descriptions despite announcing the removal of petrol subsidy.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It alleged that terms such as under-recovery and energy security costs had obscured the true extent of government support in the petroleum sector.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement also revisited the 2012 fuel subsidy removal controversy, claiming that the proposed petrol price of ₦145 per litre following the policy was opposed by Tinubu and other APC figures, who participated in protests against the measure.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It accused the current administration of repeatedly increasing petrol prices without providing sufficient transparency about daily consumption, actual costs and public expenditure.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The allegations were made by the movement in its statement.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">To address what it described as structural weaknesses in the sector, the group proposed auditing energy security contracts, reducing crude production costs by tackling corruption and inflated security contracts, strengthening pipeline protection through partnerships with host communities and ensuring fair access to crude oil for licensed domestic refineries.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It said the measures would be implemented through a clear framework, including necessary legislative amendments, to establish a sustainable system rather than a temporary intervention that would expire after 30 days.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement also questioned the Federal Government’s decision to introduce the temporary discount alongside a mechanism through which refiners and importers could recover shortfalls later.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It said the government should explain what was being paid, how the payments were accounted for and why the figures could not be independently verified.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“Under Peter Obi, fuel subsidy will no longer be a black hole for public money. It will be a measurable public intervention designed to make petrol affordable while protecting public funds from fraud and abuse,” the statement said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The movement maintained that its proposed policy would combine affordability with oversight, insisting that every litre sold and every payment made must be verifiable.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“Every litre must be verified. Every payment must be justified. Every naira must be accounted for,” it said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“The welfare of Nigerians must never be a seasonal political project.”\u003C\u002Fp>\n\u003Cp>The post \u003Ca href=\"https:\u002F\u002Fwww.vanguardngr.com\u002F2026\u002F10\u002Ffuel-discount-obidient-movement-faults-fg-backs-subsidy-restoration\u002F\">Fuel Discount: Obidient Movement faults FG, backs subsidy restoration\u003C\u002Fa> appeared first on \u003Ca href=\"https:\u002F\u002Fwww.vanguardngr.com\">Vanguard News\u003C\u002Fa>.\u003C\u002Fp>\n","fuel-discount-obidient-movement-faults-fg-backs-subsidy-restoration",{"id":60,"createdAt":61,"updatedAt":61,"name":62,"slug":63},"5d66d3d9-40ee-493e-9aef-f101a26d4b74","2026-06-23T09:40:58.464Z","PMS","pms",[65,66,67,68,69,70,71,72],"fuel","discount","obidient","movement","faults","backs","subsidy","restoration","https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2026\u002F06\u002FWhatsApp-Image-2026-06-14-at-6.06.45-PM-e1787317103560.jpeg",null,{"id":76,"createdAt":77,"updatedAt":78,"name":79,"image":80,"slug":81},"ba5aa7e2-df4c-43a8-ac43-57e16ebb83a0","2026-03-25T11:54:25.227Z","2026-08-13T13:05:58.759Z","Vanguard 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Sector","gas-sector",[],{"id":32,"createdAt":33,"updatedAt":34,"name":35,"slug":36,"children":1725},[1726,1733,1739,1751,1763,1769,1775],{"id":1727,"createdAt":1728,"updatedAt":1729,"name":1730,"slug":1731,"children":1732},"0db0c16e-f319-472a-a981-8bab747b0ceb","2026-03-26T09:11:40.076Z","2026-05-22T22:17:30.000Z","Forex","forex",[],{"id":1734,"createdAt":1735,"updatedAt":1735,"name":1736,"slug":1737,"children":1738},"58e4d853-f7a9-4fb6-93c8-e998da2616df","2026-03-26T09:11:53.516Z","Crypto","crypto",[],{"id":1740,"createdAt":1741,"updatedAt":1741,"name":1742,"slug":1743,"children":1744},"597eebac-e2ec-467a-a924-7aa1a05b9aa6","2026-03-26T09:05:11.819Z","Finance","finance",[1745],{"id":1746,"createdAt":1747,"updatedAt":1747,"name":1748,"slug":1749,"children":1750},"0322edfd-6076-4899-bb22-066cd4f5f73d","2026-06-30T13:41:37.119Z","Banking","banking",[],{"id":1752,"createdAt":1753,"updatedAt":1753,"name":1754,"slug":1755,"children":1756},"c22e9a52-9b80-4ab8-9867-f51dfed5818b","2026-05-14T08:56:08.076Z","Trade & Commerce","trade-and-commerce",[1757],{"id":1758,"createdAt":1759,"updatedAt":1759,"name":1760,"slug":1761,"children":1762},"ba43bc02-9b8f-4fc8-9e90-4db01a97cbe7","2026-05-14T08:56:26.041Z","Import & Export","import-and-export",[],{"id":1764,"createdAt":1765,"updatedAt":1765,"name":1766,"slug":1767,"children":1768},"d19b3f92-bf4f-42fc-8115-d5e17ae6830e","2026-07-16T11:35:26.049Z","Civil Service","civil-service",[],{"id":1770,"createdAt":1771,"updatedAt":1771,"name":1772,"slug":1773,"children":1774},"ea4c412a-13c0-4258-8736-c7c42d0147ba","2026-07-14T10:59:08.769Z","Entrepreneur","entrepreneur",[],{"id":1776,"createdAt":1777,"updatedAt":1777,"name":1778,"slug":1779,"children":1780},"eea91b5f-142b-46f1-a99d-07557d24c824","2026-05-14T08:56:55.630Z","Economy","economy",[],{"id":1782,"createdAt":1783,"updatedAt":1784,"name":1785,"slug":1786,"children":1787},"fc53fd41-782d-4c59-8d9c-95416b4395a1","2026-03-26T09:15:14.420Z","2026-05-22T21:57:49.000Z","Crime","crime",[1788,1794,1801,1808,1814,1827,1834,1840],{"id":1789,"createdAt":1790,"updatedAt":1790,"name":1791,"slug":1792,"children":1793},"284988d3-5df0-4450-885b-c72339b3e569","2026-05-27T05:54:43.719Z","EFCC","efcc",[],{"id":1795,"createdAt":1796,"updatedAt":1797,"name":1798,"slug":1799,"children":1800},"4279312f-d771-43fe-87d9-94fb27c423cc","2026-03-30T20:26:16.361Z","2026-06-29T12:49:14.000Z","Kidnapping & Banditry","kidnapping-and-banditry",[],{"id":1802,"createdAt":1803,"updatedAt":1804,"name":1805,"slug":1806,"children":1807},"7d71a44e-8ad3-459b-87ca-44340608ba66","2026-05-12T09:17:22.828Z","2026-05-21T22:09:16.000Z","Police","police",[],{"id":1809,"createdAt":1810,"updatedAt":1810,"name":1811,"slug":1812,"children":1813},"a5e212ca-edf5-4131-b78e-332c32d9e0e1","2026-08-08T00:55:56.482Z","Money Laundering ","money-laundering",[],{"id":1815,"createdAt":1816,"updatedAt":1817,"name":1818,"slug":1819,"children":1820},"b3fbb57a-beaa-409f-b5db-290b46ea8a58","2026-03-26T09:15:35.953Z","2026-05-22T21:59:26.000Z","Insecurity","insecurity",[1821],{"id":1822,"createdAt":1823,"updatedAt":1823,"name":1824,"slug":1825,"children":1826},"8b58bdfc-7eda-4580-9df6-1c0e84676662","2026-08-07T08:26:58.233Z","Security Agencies","security-agencies",[],{"id":1828,"createdAt":1829,"updatedAt":1830,"name":1831,"slug":1832,"children":1833},"bb43406d-7167-428a-98a5-c9b0ae3d225b","2026-04-19T11:23:40.666Z","2026-05-22T22:00:49.000Z","Drug Trafficking","drug-trafficking",[],{"id":1835,"createdAt":1836,"updatedAt":1836,"name":1837,"slug":1838,"children":1839},"edc7ab5a-86a5-4a37-af73-bac317202614","2026-07-22T14:42:24.643Z","Human Trafficking ","human-trafficking",[],{"id":1841,"createdAt":1842,"updatedAt":1843,"name":1844,"slug":1845,"children":1846},"f4a769f7-1ac5-44b9-a955-0883b8ade1dc","2026-03-30T20:25:43.706Z","2026-05-22T22:01:21.000Z","Cyber Crime","cyber-crime",[],{"status_code":4,"message":74,"data":1848},[1849,1877,1897,1917],{"id":1850,"createdAt":1851,"updatedAt":1852,"title":1853,"excerpt":1854,"content":1855,"slug":1856,"topic":1857,"tags":1858,"image":1866,"author":74,"feed":1867,"views":1874,"type":83,"readTime":1875,"externalSourceUrl":1876},"2f9b1046-e1b5-4eb9-b08f-9dd5a5cd6be2","2026-10-08T21:12:56.821Z","2026-10-09T13:12:03.000Z","‘What cutting fuel price really means’ – Presidency explains","The Presidency has clarified the Federal Government’s plan to reduce the burden of rising petrol prices on Nigerians. According to the government, the Nigerian National Petroleum Company (NNPC) will suspend its retail profit margin and sell petrol at cost for the next 30 days, targeting vulnerable households and commercial transport operators. The clarification was contained […]\n‘What cutting fuel price really means’ – Presidency explains","\u003Cimg width=\"2197\" height=\"1463\" src=\"https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" style=\"display: block; margin: auto; margin-bottom: 5px;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel.jpg 2197w, https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel-300x200.jpg 300w, https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel-1024x682.jpg 1024w, https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel-1536x1023.jpg 1536w, https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel-2048x1364.jpg 2048w\" sizes=\"auto, (max-width: 2197px) 100vw, 2197px\" \u002F>\n\u003Cp>The Presidency has clarified the Federal Government’s plan to reduce the burden of rising petrol prices on Nigerians.\u003C\u002Fp>\n\n\n\n\u003Cp>According to the government, the Nigerian National Petroleum Company (NNPC) will suspend its retail profit margin and sell petrol at cost for the next 30 days, targeting vulnerable households and commercial transport operators.\u003C\u002Fp>\n\n\n\n\u003Cp>The clarification was contained in a statement on Thursday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.\u003C\u002Fp>\n\n\n\n\u003Cp>The Presidency said the new arrangement was announced by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday, as part of fresh measures to cushion the effect of the recent hike in global crude oil and petrol prices.\u003C\u002Fp>\n\n\n\n\u003Cp>Under the plan, NNPC Retail will sell petrol without its usual profit margin during the 30-day period. This means if the landing cost is N1,300 per litre, the company will sell at N1,300 without adding any margin.\u003C\u002Fp>\n\n\n\n\u003Cp>The measure, which has the backing of President Bola Tinubu, is expected to prioritise public transport operators and offer some relief to households struggling with high transport and living costs.\u003C\u002Fp>\n\n\n\n\u003Cp>Oyedele stressed that the decision should not be seen as a return to the petrol subsidy removed by Tinubu on May 29, 2023. He expressed hope that other marketers would take a cue from NNPC as the government responds to rising global prices.\u003C\u002Fp>\n\n\n\n\u003Cp>The Presidency added that the increase in international crude prices and its pressure on local petrol prices are not expected to last forever, hence the need for a temporary measure to ease the burden on Nigerians without rolling back fuel market reforms.\u003C\u002Fp>\n\n\n\n\u003Cp>“The Nigerian National Petroleum Company (NNPC) agreed today to forgo its petrol retail profit margin and sell to Nigerians at cost to cushion the impact of global crude oil price shocks and volatility on vulnerable households.\u003C\u002Fp>\n\n\n\n\u003Cp>“NNPC Retail, which already sells petrol at the lowest price in the market, will offer this new deal within the next 30 days. This means if NNPC’s landing cost is N1,300, it will sell fuel to Nigerians, especially commercial transport operators, at the same price.\u003C\u002Fp>\n\n\n\n\u003Cp>“The company’s discount gesture, backed by President Bola Ahmed Tinubu, was among the raft of measures the Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, announced today,” the Presidency said in a statement.\u003Cbr>\u003C\u002Fp>\n\u003Cp>\u003Ca href=\"https:\u002F\u002Fdailypost.ng\u002F2026\u002F10\u002F08\u002Fwhat-cutting-fuel-price-really-means-presidency-explains\u002F\">‘What cutting fuel price really means’ – Presidency explains\u003C\u002Fa>\u003C\u002Fp>\n","what-cutting-fuel-price-really-means-presidency-explains",{"id":60,"createdAt":61,"updatedAt":61,"name":62,"slug":63},[1859,1860,65,1861,1862,1863,1864,1865],"what","cutting","price","really","means","presidency","explains","https:\u002F\u002Fdailypost.ng\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002Ffuel.jpg",{"id":1868,"createdAt":1869,"updatedAt":1870,"name":1871,"image":1872,"slug":1873},"87678139-216f-4786-b9b2-a4e8155e5649","2026-03-25T11:55:31.204Z","2026-08-13T13:05:10.144Z","Daily Post","https:\u002F\u002Fcdn.oneclickafrica.com\u002Ffeed\u002F9efc788c-30f4-47fa-8efc-4edb5cfd560a.png","daily-post",22,2,"https:\u002F\u002Fdailypost.ng\u002F2026\u002F10\u002F08\u002Fwhat-cutting-fuel-price-really-means-presidency-explains\u002F",{"id":1878,"createdAt":1879,"updatedAt":1852,"title":1880,"excerpt":1881,"content":1882,"slug":1883,"topic":1884,"tags":1885,"image":1892,"author":74,"feed":1893,"views":1894,"type":83,"readTime":1895,"externalSourceUrl":1896},"29b97d02-5076-4b3f-98de-ca627ac612e0","2026-10-08T15:50:00.405Z","Hardship: FG proposes N1,350 ceiling for petrol ex-gantry","\"We are introducing price modulation. Pump prices should not have to follow every swing in global crude or exchange rate. The government is negotiating a ceiling of N1,350 a litre on the ex-gantry cost of petrol to keep pump prices stable,\" he said.\nThe post Hardship: FG proposes N1,350 ceiling for petrol ex-gantry appeared first on Vanguard News.","\u003Cimg width=\"679\" height=\"545\" src=\"https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2025\u002F12\u002FTaiwo-Oyedele.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Hardship: FG proposes N1,350 ceiling for petrol ex-gantry\" decoding=\"async\" fetchpriority=\"high\" srcset=\"https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2025\u002F12\u002FTaiwo-Oyedele.jpg 679w, https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2025\u002F12\u002FTaiwo-Oyedele-300x241.jpg 300w\" sizes=\"(max-width: 679px) 100vw, 679px\" \u002F>\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>By Ayobami Okerinde\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The Federal Government is planning to negotiate a ceiling of N1,350 per litre on the ex-gantry cost of petrol in a move aimed at shielding pump prices from fluctuations in global crude oil prices and exchange rates.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, disclosed this on Thursday in Abuja while addressing a press conference on fuel prices and subsidy-related questions.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">However, Oyedele acknowledged that the measures being proposed by the Federal Government would not completely ease the pressure on households.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">He then outlined the proposed measures, including the N1,350 ceiling on the ex-gantry or landing cost of petrol, which he said was designed to reduce volatility in pump prices.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“We are introducing price modulation. Pump prices should not have to follow every swing in global crude or exchange rate. The government is negotiating a ceiling of N1,350 a litre on the ex-gantry cost of petrol to keep pump prices stable,” he said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">According to him, where the actual cost rises above the ceiling, refiners and importers would bear the shortfall and recover it later when crude prices or exchange rates become favourable, without breaching the ceiling.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“This is neither a subsidy nor a price control; it is designed to smooth prices over time, rather than suppressing them,” Oyedele said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">He explained that the objective was to prevent sharp swings in pump prices, saying, “The reason is simple: N1,400 a litre today and tomorrow is better than N1,500 today and N1,300 tomorrow, because volatility itself adds to uncertainty and fuels go up sharply; they rarely come down as fast.”\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Oyedele said the ceiling would be reviewed monthly, with adjustments made where necessary and the figures published for transparency.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">He also announced a 30-day discount on petrol dispensed by NNPC Limited, with priority given to public transporters nationwide, while insisting that the measure was not a subsidy.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Recall that \u003Ca href=\"https:\u002F\u002Fwww.vanguardngr.com\u002F2026\u002F10\u002Fnnpc-rolls-out-%E2%82%A666-fuel-discount-across-nigeria\u002F\">Vanguard\u003C\u002Fa> had earlier reported that the NNPC limited announced a ₦66 fuel discount for customers using the NNPC Fuel App at its stations nationwide.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“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. It’s not a subsidy; the government is saying we sell to you at a cost,” he said.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The minister said the government was also working on forward crude sales to domestic refiners, adding that rising production would help shield pump prices from volatility in the international market.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“We’re working with the states across the federation under the new tax laws. We are reigning in the taxes and levies that inflate fuel and logistics costs,” he added.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Oyedele said the government was also increasing funding for cash transfers to vulnerable households and subsidising credit for small businesses and consumers, while working with state governments to accelerate the rollout of compressed natural gas.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The proposed measures come amid a renewed political debate over fuel subsidies, with African Democratic Congress (ADC) presidential candidate Atiku Abubakar and Nigeria Democratic Congress (NDC) presidential candidate Peter Obi promising to restore the subsidy if elected in 2027.\u003C\u002Fp>\n\u003Cp>The post \u003Ca href=\"https:\u002F\u002Fwww.vanguardngr.com\u002F2026\u002F10\u002Fhardship-fg-proposes-n1350-ceiling-for-petrol-ex-gantry\u002F\">Hardship: FG proposes N1,350 ceiling for petrol ex-gantry\u003C\u002Fa> appeared first on \u003Ca href=\"https:\u002F\u002Fwww.vanguardngr.com\">Vanguard News\u003C\u002Fa>.\u003C\u002Fp>\n","hardship-fg-proposes-n1350-ceiling-for-petrol-ex-gantry",{"id":60,"createdAt":61,"updatedAt":61,"name":62,"slug":63},[1886,1887,1888,1889,1890,1891],"hardship","proposes","n1350","ceiling","petrol","exgantry","https:\u002F\u002Fcdn.vanguardngr.com\u002Fwp-content\u002Fuploads\u002F2025\u002F12\u002FTaiwo-Oyedele.jpg",{"id":76,"createdAt":77,"updatedAt":78,"name":79,"image":80,"slug":81},19,3,"https:\u002F\u002Fwww.vanguardngr.com\u002F2026\u002F10\u002Fhardship-fg-proposes-n1350-ceiling-for-petrol-ex-gantry\u002F",{"id":1898,"createdAt":1899,"updatedAt":1900,"title":1901,"excerpt":1902,"content":1903,"slug":1904,"topic":1905,"tags":1906,"image":1907,"author":74,"feed":1908,"views":1894,"type":83,"readTime":1915,"externalSourceUrl":1916},"315c6990-9f61-43c7-9557-d6c0eca1a895","2026-10-08T20:50:00.678Z","2026-10-09T13:12:04.000Z","Petrol discount not subsidy — Presidency","The Presidency says a new measure for NNPC to sell petrol at cost price is a discount to cushion price shocks, not a return of the fuel subsidy.\n\nRead More: https:\u002F\u002Fpunchng.com\u002Fpetrol-discount-not-subsidy-presidency\u002F","\n\nThe Presidency says a new measure for NNPC to sell petrol at cost price is a discount to cushion price shocks, not a return of the fuel subsidy.\n\nRead More: https:\u002F\u002Fpunchng.com\u002Fpetrol-discount-not-subsidy-presidency\u002F","petrol-discount-not-subsidy-presidency",{"id":60,"createdAt":61,"updatedAt":61,"name":62,"slug":63},[1890,66,71,1864],"https:\u002F\u002Fcdn.punchng.com\u002Fwp-content\u002Fuploads\u002F2026\u002F10\u002F01083912\u002F8600d15f-07f7-4720-82ee-3fc38fbe3b4f_1790840352.webp",{"id":1909,"createdAt":1910,"updatedAt":1911,"name":1912,"image":1913,"slug":1914},"ade0b341-0401-468c-a175-895514f214f9","2026-03-25T12:04:21.064Z","2026-08-13T13:05:50.352Z","Punch Nigeria","https:\u002F\u002Fcdn.oneclickafrica.com\u002Ffeed\u002Ff63ca011-8a2c-4617-b784-b78e461d5bb1.png","punch-nigeria",1,"https:\u002F\u002Fpunchng.com\u002Fpetrol-discount-not-subsidy-presidency\u002F?utm_source=rss.punchng.com&utm_medium=web",{"id":1918,"createdAt":1919,"updatedAt":1852,"title":1920,"excerpt":1921,"content":1922,"slug":1923,"topic":1924,"tags":1925,"image":1930,"author":74,"feed":1931,"views":1938,"type":83,"readTime":1915,"externalSourceUrl":1939},"2daab159-31f8-48b5-8b3e-a698be431fba","2026-10-08T19:50:01.110Z","Fuel subsidy would cost Nigeria over N20trn yearly — Minister","The Federal Government has rejected calls for the return of petrol subsidy, warning that restoring petrol to its pre-reform price would cost more than N20 trillion annually and could eventually push the exchange rate towards N3,000 to a dollar and petrol prices to at least N2,000 per litre.\nThe post Fuel subsidy would cost Nigeria over N20trn yearly — Minister appeared first on Premium Times Nigeria.","\u003Cimg width=\"600\" height=\"338\" src=\"https:\u002F\u002Fi0.wp.com\u002Fmedia.premiumtimesng.com\u002Fwp-content\u002Ffiles\u002F2026\u002F05\u002Fadmin-ajax-3-2.jpg?fit=600%2C338&ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele\" style=\"display: block; margin: auto; margin-bottom: 5px;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" srcset=\"https:\u002F\u002Fi0.wp.com\u002Fmedia.premiumtimesng.com\u002Fwp-content\u002Ffiles\u002F2026\u002F05\u002Fadmin-ajax-3-2.jpg?w=600&ssl=1 600w, https:\u002F\u002Fi0.wp.com\u002Fmedia.premiumtimesng.com\u002Fwp-content\u002Ffiles\u002F2026\u002F05\u002Fadmin-ajax-3-2.jpg?resize=526%2C296&ssl=1 526w\" sizes=\"(max-width: 600px) 100vw, 600px\" \u002F>\u003Cp>The Federal Government has rejected calls for the return of petrol subsidy, warning that restoring petrol to its pre-reform price would cost more than N20 trillion annually and could eventually push the exchange rate towards N3,000 to a dollar and petrol prices to at least N2,000 per litre.\u003C\u002Fp>\n\u003Cp>The post \u003Ca href=\"https:\u002F\u002Fwww.premiumtimesng.com\u002Fbusiness\u002Fbusiness-news\u002F915535-fuel-subsidy-would-cost-nigeria-over-n20trn-yearly-minister.html\">Fuel subsidy would cost Nigeria over N20trn yearly — Minister\u003C\u002Fa> appeared first on \u003Ca href=\"https:\u002F\u002Fwww.premiumtimesng.com\">Premium Times Nigeria\u003C\u002Fa>.\u003C\u002Fp>\n","fuel-subsidy-would-cost-nigeria-over-n20trn-yearly-minister",{"id":60,"createdAt":61,"updatedAt":61,"name":62,"slug":63},[65,71,1926,316,1927,1928,1929],"cost","n20trn","yearly","minister","https:\u002F\u002Fi0.wp.com\u002Fmedia.premiumtimesng.com\u002Fwp-content\u002Ffiles\u002F2026\u002F05\u002Fadmin-ajax-3-2.jpg?fit=600%2C338&ssl=1",{"id":1932,"createdAt":1933,"updatedAt":1934,"name":1935,"image":1936,"slug":1937},"82956691-2abe-4af9-a899-8e05365755d0","2026-03-25T11:53:52.744Z","2026-08-13T13:04:48.079Z","Premium TImes","https:\u002F\u002Fcdn.oneclickafrica.com\u002Ffeed\u002Fe87505b6-faaa-44e3-b31e-8a5481a8e8fd.webp","premium-times",18,"https:\u002F\u002Fwww.premiumtimesng.com\u002Fbusiness\u002Fbusiness-news\u002F915535-fuel-subsidy-would-cost-nigeria-over-n20trn-yearly-minister.html",{"status_code":4,"message":74,"data":1941},[1942,1943,1944,1945,1946,1947,1948,1949,1950,1951,1952,1953,1954,1955,1956,1957,1958,1959,1960,1961],"JUST IN: Police confirm abduction of three workers at Oyo Institute","EPL: Arteta gives injury updates on six Arsenal players ahead of Leeds clash","2027: Atiku leader other candidates are following – Kenneth Okonkwo","EPL: Arteta reveals stance on Man City’s guilty verdict","NLC\u002FNUT strike: Wike threatens no-work, no-pay","Gunmen kidnap three CRIN workers in Oyo, demand N120m ransom","Gunmen kill security operative in Plateau","Standard Bank targets doubling West African business by 2030","Sovereign Trust pledges better customer service as insurers face trust test","Fresh storms put Alia’s second-term in Benue bid under strain","AI takes centre stage as KWACCIMA holds trade fair in December","Nigeria adopts Ethiopia model to drive nutrition in 774 LG","Businessman charged with threatening Kibera magistrate","EPL: Unleash Anfield Crowd On Manchester City  –Carragher Advises Liverpool Manager","2028 Olympics Qualifier: Eguavoen Warns Super Falcons Against Underestimating Comoros","2027 Hajj: NAHCON prioritises hitch-free pilgrimage, engages key stakeholders","Court adjourns SERAP’s N100m defamation appeal","FULL LIST: Top 10 footballers with most goals in calendar year","Motorists, commuters, others react to FG’s 30-day petrol discount","2028 Olympics Qualifier: Comoros coach plots Super Falcons’ defeat"]