•Tinubu (right) and APM presidential candidate and governor of Oyo State, Seyi Makinde
The Makinde/Daura Presidential Campaign Organisation (MDPCO) has rejected the federal government’s 30-day petrol discount, describing the measure as a “deceitful and failed media stunt.”
The campaign group of the Allied Peoples Movement (APM) presidential candidate, Governor Seyi Makinde, said the discount announced by the President Bola Tinubu-led administration was inadequate, arguing that Nigerians expected a more significant reduction in the price of petrol, reports Channels TV.
The federal government had announced a 30-day discount on petrol dispensed by the Nigerian National Petroleum Company Limited (NNPCL), with priority for public transporters nationwide.
Announcing the measure yesterday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the arrangement was not a subsidy but an attempt by the government to sell petrol at cost.
“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. So, it’s not a subsidy, government is just saying we sell to you at cost,” Oyedele said.
But the MDPCO, in a statement signed by its Director of Strategic Communications, Richard Ihediwa, described the discount as an “offensive and provocative attempt to beguile Nigerians.”
The organisation said the measure amounted to a “slap on the face” of Nigerians who were expecting an impactful reduction in petrol prices.
It questioned why, in its view, the administration had made what it described as significant increases in petrol prices but was now offering what it called a “teeny N60” reduction.
The group also criticised the decision to limit the discount to a 30-day period, arguing that the temporary measure would not provide lasting relief to Nigerians.
“The fact that the minuscule reduction will only be on scantly located NNPC owned retail filling stations and for a period of one month clearly shows that the Tinubu administration has come to its wits end and become bereft of solutions,” the statement said.
The campaign organisation also faulted the federal government’s proposal to sell crude oil to domestic refineries at a dollar-denominated rate, describing the arrangement as “distasteful and offensive to our status as an oil producing nation.”
Meanwhile, Oyedele announced that the government was also targeting a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol.
He explained that the proposed ceiling was not a fixed pump price of ₦1,350 per litre, but was intended to prevent sharp movements in global crude prices and exchange rates from immediately translating into higher petrol costs.
“Pump prices should not have to follow every swing in global crude or the exchange rate. The government is negotiation a ceiling of N1,350 a litre on the ex gantry or landing cost of petrol to keep pump prices stable,” Oyedele said.
According to him, where costs rise above the ceiling, refiners and importers would initially bear the shortfall and recover it later when market conditions allow.
Oyedele said the mechanism was neither a subsidy nor price control, but was designed to smooth out petrol prices over time.
“The reasoning is simple, N1,400 a litre today and N1,400 a litre tomorrow is better than N1,500 a litre today and N1,300 a litre tomorrow. Why? Because volatility itself adds to uncertainty and cost and when fuel goes up sharply, they rarely come down as fast,” he said.
But the Makinde campaign maintained that Nigerians deserved what it called an “impactful reduction” in petrol prices rather than what it described as a temporary measure ahead of the 2027 elections.
The organisation said it remained committed to supporting Seyi Makinde, the Allied Peoples Movement (APM) presidential candidate, whom it described as capable of providing what it called an honest and responsive government.
