Fuel Discount: ‘We Are Not Dumb to Give Nigerians One-Month Discount for Votes’ – Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has defended the Federal Government’s 30-day petrol discount through NNPC stations, insisting that the initiative is aimed at helping Nigerians cope with high fuel prices rather than securing votes ahead of future elections.

Oyedele said this on Channels Television’s Programme Politics Today while explaining the rationale behind the temporary discount, dismissing suggestions that the measure was a political strategy ahead of the anticipated January electoral activities.

“We are not that dumb to give Nigerians a discount for one month so that they can vote for us in January. We are only trying to help Nigerians,” he said.

The Federal Government had announced a 30-day petrol discount at NNPC Limited filling stations, with priority given to public transport operators nationwide.

Oyedele clarified that the initiative was not a return to fuel subsidy, explaining that the government was offering a temporary price reduction rather than subsidising petrol in the traditional sense.

The minister also addressed concerns about Nigeria’s crude oil production capacity, stating that the country currently produces approximately 1.8 million barrels per day, including condensate, but does not have sufficient uncommitted crude oil to meet the full requirements of the Dangote Refinery and other domestic refineries.

According to him, a significant portion of Nigeria’s crude oil production is already committed under existing contractual arrangements involving cost recovery, royalties and profit oil.

Oyedele further ruled out the restoration of fuel subsidy, describing proposals to bring back the policy as economically dangerous.