NNPC’s Profitability, State Govts’ Revenues Threatened as FG Introduces 30-Day Fuel Discount
The current level of huge profitability being enjoyed by the Nigerian National Petroleum Corporation may be under threat in the wake of the decision of the Federal Government to cap fuel price at NNPC’s stations at N1,350 to alleviate the economic hardship being experienced by Nigerians.
State governments across the country who have enjoyed massive windfall as a result of the removal of fuel subsidy may also be affected by the development as monthly allocations from the Federation Accounts face potential reduction.
The new measure, which according to the Minister of Finance of Finance and Coordinating Minister for the Economy will last for 30 days would be carried out through NNPC retail stations nationwide.
NNPC which is now fully commercialized, recently posted a profit after tax of N?, a ?% increase over the 2025 figure.
