The Federal Government has announced a 30-day petrol price relief programme under which the Nigerian National Petroleum Company Limited (NNPCL) will sell petrol at a ceiling price of N1,350 per litre at its designated filling stations, a move that has drawn criticism from opposition parties ahead of the 2027 general elections.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure in Abuja on Thursday, explaining that it was designed to cushion the impact of fluctuations in global crude oil prices on households and businesses.

Oyedele said the initiative would initially run for 30 days, with the price reviewed monthly.

He added that public transport operators would receive priority under the arrangement.

According to the minister, the measure is not a reintroduction of fuel subsidy but an arrangement to sell petrol at cost to moderate the impact of rising energy prices on Nigerians.

He said the government was also considering forward sales of crude oil to domestic refiners at a yet-to-be-determined period and price to provide greater certainty for refiners and help stabilise prices for consumers.

Oyedele explained that the proposed arrangement would involve negotiating a ceiling price of N1,350 per litre based on the ex-gantry or landing cost of petrol.

The minister, however, warned that proposals by some presidential candidates to reintroduce fuel subsidy could push petrol prices to at least N2,000 per litre and weaken the naira to about N3,000 to the dollar.

He argued that a return to subsidy could undermine government revenue, trigger a sovereign credit downgrade, increase borrowing costs and threaten recent gains in foreign exchange reserves and inflation management.

Oyedele maintained that the removal of fuel subsidy had encouraged domestic refining and helped sustain petroleum supply, adding that the Dangote refinery might not have been viable under the previous subsidy regime.

He also highlighted the government's investments in compressed natural gas (CNG) as an alternative to petrol, stating that more than 120,000 vehicles were running on CNG, supported by over 400 conversion centres, 96 refuelling stations and 18 liquefied-to-compressed natural gas stations.

According to him, more than 550 CNG buses had been deployed, with transport fares falling by between 30 and 50 per cent in areas where they operate.

The minister further disclosed that the Federal Government was investing in a National Strategic Fuel Reserve to protect households and businesses against future energy shocks.

He said refined petroleum products would be released into the market under published rules whenever global disruptions or hoarding threatened supply and price stability.

The Presidency, meanwhile, said the NNPC's decision to forgo its retail profit margin under the initiative had the backing of President Bola Tinubu.

In a statement, the President's Special Adviser on Information and Strategy, Bayo Onanuga, said the intervention should not be interpreted as an attempt to reverse fuel subsidy removal.

Onanuga maintained that the government was pursuing targeted measures to make the benefits of economic reforms reach more Nigerians without reintroducing a blanket subsidy that could create longer-term economic problems.

However, the announcement has attracted strong criticism from opposition figures, who questioned the duration of the relief and accused the administration of introducing a temporary measure in response to mounting economic hardship.

Former Vice-President Atiku Abubakar rejected the initiative, describing it as a temporary political fix that would do little to address the sustained increases in transport fares and food prices.

In a statement issued by his Director of Strategic Communication, Phrank Shaibu, Atiku questioned what would happen when the 30-day period expired.

He also faulted the restriction of the discount to NNPC filling stations, arguing that the government had not explained how much motorists would save per litre or guaranteed that transport operators would transfer the savings to passengers through reduced fares.

Atiku reiterated his proposal for capped and budgeted production support tied to fuel refined in Nigeria, with safeguards to ensure that consumers benefit while domestic refining receives support.

The Nigeria Democratic Congress (NDC) also condemned the measure, describing it as tokenism and a “Greek gift” from the Tinubu administration.

In a statement by its National Publicity Secretary, Osa Director, the party argued that the temporary discount was inadequate to address the economic hardship associated with the removal of fuel subsidy.

The NDC also questioned whether the designated NNPC outlets would be sufficient to serve Nigeria's population, warning that the arrangement could create congestion at filling stations.

The party called on Nigerians to support its presidential candidate, Peter Obi, in the 2027 election, arguing that the country needed a different approach to economic management.

Similarly, the African Democratic Congress Presidential Campaign Council (ADC-PCC) described the 30-day discount as an attempt to bribe Nigerians ahead of the 2027 elections.

In a statement by its Director of Media and Publicity, Kola Ologbondiyan, the council accused the administration of subjecting Nigerians to years of economic hardship before offering temporary relief.

The ADC campaign council questioned why the government had not introduced such measures earlier if it had the capacity to reduce the burden of fuel prices.

It argued that Nigerians needed sustainable solutions rather than a temporary price intervention that could be reviewed monthly.

Meanwhile, Nigerians who spoke on the issues expected to shape the 2027 presidential campaigns called on candidates to move beyond political rhetoric and present practical solutions to the country's economic and security challenges.

They identified the cost of living, insecurity, unemployment, electricity, healthcare, education and declining purchasing power as key issues that should dominate campaign discussions.

Some respondents also called for transparency, realistic policy proposals, clear implementation strategies and accountability, while others advocated reforms in the oil industry, the revival of state-owned refineries and support for small businesses in the informal economy.