The Federal Government has announced measures to ease the impact of rising fuel prices on Nigerians, according to reports from Tribune Online and Punch Newspapers. The announcement comes as fuel prices continue to soar, causing hardship for many Nigerians. The measures, which include a 30-day margin discount at NNPC stations and a proposed landing cost ceiling of ₦1,350 per litre, are aimed at providing relief to consumers. The Minister of Finance and Coordinating Minister of the Economy, Zainab Ahmed, revealed that the Government is also increasing support for vulnerable households and small businesses. The Government’s move follows public outcry over the increase in fuel prices, which has led to protests in several parts of the country. It remains to be seen whether these measures will be sufficient to address the ongoing hardship faced by many Nigerians. The Tribune Online report notes that the Government is also considering other measures to address the situation, but no further details have been provided. The full list of measures announced by the Government, as reported by Punch Newspapers, is as follows:
- A 30-day margin discount at NNPC stations
- A proposed landing cost ceiling of ₦1,350 per litre
- Increased support for vulnerable households and small businesses
- The implementation of a ₦5,000 monthly transportation grant for civil servants
- The allocation of funds for the rehabilitation of refineries
- The establishment of a fuel price stabilization fund
- The provision of tax incentives for investors in the oil and gas sector
- The implementation of a National Automotive Policy to boost local production
- The implementation of a National Gas Expansion Programme to increase the use of gas as a fuel
- The implementation of a National Single Window System to streamline customs procedures
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