The Federal Government announces a petrol price-modulation plan that proposes a ceiling of ₦1,350 per litre. Multiple outlets report that the measure is intended to limit how much petrol costs can rise and to stabilise prices without relying on traditional fuel subsidies.

According to reports from Nigeria’s financial and economic officials, the ₦1,350 figure relates to the petrol “landing” or “ex-gantry” cost, with the aim of preventing pump prices from automatically tracking changes in global crude oil prices and exchange rates. Outlets describe the announcement being made during a press briefing in Abuja, with the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, cited as the speaker. While coverage differs slightly in the terminology used (landing cost versus ex-gantry cost), the core proposal and the intended effect on price stability are consistent across the reports.