FG Proposes ₦1,350 Petrol Price Cap as Nigeria Moves to Stabilise Fuel Prices
The Federal Government has proposed a ₦1,350 per litre ceiling on petrol costs as part of measures aimed at reducing fuel price volatility and easing the impact of rising petrol prices on Nigerians.The proposal was announced on Thursday, October 8, 2026, as the government unveiled measures designed to stabilise the downstream petroleum sector and cushion consumers from increasing fuel costs.Officials clarified that the proposed ₦1,350 figure refers to an ex-gantry/landing cost ceiling, and should not be interpreted as a fixed retail pump price for motorists.The government also announced additional measures, including a temporary discount on margins at NNPC filling stations for public transport operators. The measures are expected to be reviewed as market conditions change.The government says the initiatives are intended to improve price stability while reducing the pressure of rising transportation and living costs on Nigerians
