Breaking: Presidency Reacts to Report of Tinubu Returning Fuel Subsidy
- President Tinubu's spokesman reacted to news reports on Thursday, October 8, over claims that the federal government had restored the fuel subsidy
- Finance Minister confirmed NNPC Limited is offering a margin discount on petrol for 30 days, with public transporters given priority nationwide
- Presidential aide Bayo Onanuga said the government's announcement has been misrepresented in media headlines
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The Tinubu administration has moved to correct what it described as a misrepresentation of its latest fuel pricing measures, saying reports claiming the federal government has restored fuel subsidy are inaccurate.
Bayo Onanuga, President Bola Tinubu's special adviser on information and strategy, made the clarification in a social media post on Thursday, October 8, responding directly to a news headline that characterised the government's announcement as a subsidy return.
Source: Twitter
What Tinubu government actually announced
According to Onanuga, what the government introduced is a margin discount at NNPC Limited filling stations, not a reinstatement of the fuel subsidy that was removed under the Tinubu administration. The Finance Minister had described the policy in these terms:
"A margin discount at NNPC stations. We are offering a discount on petrol dispensed by NNPC Limited for the next 30 days, with priority for public transporters nationwide."
The distinction the government is drawing is between a structured state-backed subsidy, which involves government spending to bridge the gap between market prices and pump prices, and a limited, time-bound commercial discount offered by NNPC Limited as a business entity.
Why the clarification matters
The government's push to correct the narrative comes as Nigerians continue to feel the impact of high fuel costs following the removal of the petrol subsidy. The Tinubu administration has consistently maintained that returning to full subsidy payments is not its policy direction.
By limiting the discount to NNPC stations and prioritising public transporters, the scheme appears targeted at easing transportation costs for commuters rather than providing broad relief at all filling stations across the country. The 30-day timeframe also signals that the measure is temporary in nature.
Onanuga's intervention suggests the presidency is concerned that confusion over the policy could fuel misinformation ahead of public debate on the fuel pricing situation.
See Onanuga's full statement on X here:
FG announces petrol price discount
Legit.ng earlier reported that the Federal Government announced a petrol price discount at NNPC filling stations, with priority given to public transporters.
Finance Minister Taiwo Oyedele made the disclosure at a press conference in Abuja on Thursday.
The Federal Government also said it will negotiate a landing cost for petrol that will be reviewed every month.
Source: Legit.ng
