Nigeria, Oct. 9 -- The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the discount on petrol to be sold at Nigerian National Petroleum Company (NNPC) Retail stations is a commercial decision by the retailer and does not amount to a return of fuel subsidy.

In a statement issued on Friday, Mr Oyedele said the discount was being funded by NNPC Retail through a reduction in its retail profit margin, rather than from the Federal Government's budget or the Federation Account.

He said the arrangement was intended to offer some relief to motorists without reversing the removal of petrol subsidy in May 2023.

"A margin discount means the retailer chooses to take a smaller margin, or no margin at all for a p...