The Federal Government has announced 10 measures to cushion the impact of rising petrol prices.

‎Minister of Finance, Taiwo Oyedele, announced the measures on Thursday in Abuja.

‎He said the measures are not a return to fuel subsidy but targeted support for households, businesses and transporters.

The measures are:

‎One, 30-day discount on petrol at NNPC stations nationwide, with priority for public transporters.

Two, increase in forward sale of crude oil to local refineries to shield domestic prices from global fluctuations.

Three, a ceiling of 1,350 naira per litre on petrol landing cost. Oyedele said importers and refiners will absorb costs above the ceiling and recover when prices drop. He said it will be reviewed monthly.

‎Four, removal of illegal road taxes and levies in collaboration with states to cut transport costs.

‎Five, increased cash transfers to vulnerable households and subsidised credit to small businesses.

‎Six, faster rollout of CNG vehicles by federal and state governments.

‎Seven, excess profit tax for operators taking undue advantage along the energy value chain.

‎Eight, tax relief for low-income earners under the 2027 Finance Bill.

‎Nine, establishment of a National Strategic Fuel Reserve to prevent scarcity and deter hoarding.

Ten, improved traffic and logistics management, including use of NIPOST address codes to reduce fuel consumption.

Oyedele said none of the measures restores blanket subsidy, which he said would do long-term harm for short-term relief.