FG Sparks Political Firestorm With 30-Day Petrol Price Relief at N1,350

​By Olatunji Adesina

​ABUJA — In a major policy shift aimed at dampening soaring household expenses, the Federal Government has announced a 30-day emergency price intervention, directing the Nigerian National Petroleum Company (NNPC) Limited to temporarily forgo its retail profit margins and dispense petrol at a capped price of N1,350 per litre.

​The announcement, delivered by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, during a media briefing in Abuja, establishes a monthly-reviewed ceiling designed to offer immediate relief to vulnerable citizens, with strict priority initially channeled to commercial public transport operators nationwide.

​However, the intervention has triggered a fierce political storm, drawing swift, hard-hitting condemnations from major opposition figures and political parties who dismissed the measure as a short-term electoral gimmick.

​Presidency Defends Policy, Warns Against Subsidy Reversal

​Amid rising public debate, the Presidency threw its full weight behind the decision. In a statement issued by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, the administration stressed that the arrangement does not constitute a return to a blanket subsidy regime.

​”To be clear, none of these measures restores a blanket subsidy. Doing so would create longer-term harm for a short-term cure,” Onanuga stated, emphasizing that the measure is tailored to reach struggling households without exposing the wider macroeconomy to systemic shocks.

​Bolstering the Presidency’s stance, Minister Oyedele issued stark warnings regarding alternative proposals floated by political opponents. He cautioned that a total rollback of petroleum deregulation and the reintroduction of a subsidized regime would trigger catastrophic economic consequences.

​According to government projections, such a reversal would rapidly deplete Nigeria’s foreign reserves—which currently stand at an 18-year high of $55 billion—leading to a severe currency depreciation. Oyedele warned that the exchange rate could spiral toward N3,000 to the dollar, while officially “subsidized” pump prices could surge as high as N2,000 per litre.

​Highlighting complementary palliatives, the Finance Minister pointed to strides in the transport sector, noting that over 120,000 vehicles have successfully transitioned to Compressed Natural Gas (CNG), supported by expanding conversion and refueling networks. Additionally, the government announced plans to establish a National Strategic Fuel Reserve to insulate the domestic market against future global supply shocks and price volatility.

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​Opposition Parties Pick Apart the 30-Day Window

​Despite government assurances, the policy met with immediate skepticism and sharp rebukes from opposition heavyweights, who questioned the sustainability of a fleeting 30-day window.

​Former Vice-President and presidential hopeful, Alhaji Atiku Abubakar, speaking through his campaign organization, slammed the intervention as a calendar-timed political maneuver.

​”What happens on Day 31? Nigerians wake up to the same brutal prices, the same punishing transport fares and the same rising cost of food,” Atiku’s camp stated, arguing that a temporary discount offers no structural solution to years of compounding economic hardship.

​Similarly, the National Democratic Congress (NDC), through its National Publicity Secretary, Osa Director, characterized the policy as a “Greek gift” and political tokenism. The party contended that the administration is frantically clutching at straws to rescue a failing economic strategy as the 2027 general elections draw near.

​The African Democratic Congress (ADC) Presidential Campaign Council echoed similar sentiments. In a statement signed by its Director of Media and Publicity, Kola Ologbondiyan, the party described the directive as a desperate, negotiated attempt to “bribe Nigerians with cheaper fuel” after subjecting the populace to more than two years of severe economic distress.

​Citizens Demand Long-Term Solutions

​As the political crossfire intensifies, ordinary Nigerians and policy analysts have weighed in on the core expectations for governance moving forward. Public consensus across civil society points toward the urgent necessity for comprehensive, sustainable interventions addressing pervasive inflation, infrastructural deficits, electricity tariffs, and national security, rather than temporary fiscal Band-Aids.

​With political campaigns for the 2027 cycle gathering momentum, the fierce debate over energy pricing underscores the delicate tightrope the current administration must walk between maintaining critical fiscal reforms and pacifying an economically overburdened citizenry.