The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has distanced itself from the latest surge in petrol prices, saying the law does not empower it to dictate what filling stations charge motorists.
The clarification comes as petrol prices climb to between N1,400 and N1,450 per litre in major cities, placing renewed pressure on consumers and businesses already grappling with high energy and transportation costs.
The regulator said its position is anchored on Section 205(1) of the Petroleum Industry Act, which provides for wholesale and retail petroleum prices to be determined by market forces under the country’s deregulated downstream petroleum regime.
In a statement issued on September 19, the NMDPRA said it neither fixes pump prices nor provides administrative pricing templates for petroleum retailers.
The authority, however, stressed that deregulation does not give marketers unrestricted freedom to exploit consumers, saying operators remain subject to competition, consumer protection and other regulatory obligations.
According to Legit.ng, the NMDPRA said it was strengthening its collaboration with the Federal Competition and Consumer Protection Commission (FCCPC) to monitor possible price-gouging, collusion, under-dispensing and the sale of products that fail quality standards.
The authority is also working with the Nigeria Customs Service and other security agencies to intensify surveillance along border routes, particularly to check petroleum-product smuggling and its potential impact on domestic supply and prices.
It said additional reporting channels were being developed to enable consumers and industry stakeholders to report suspicious pricing practices and other forms of exploitation for investigation.
The latest clarification comes as petrol sells for about N1,400 to N1,430 per litre at several filling stations in Lagos, while prices in Abuja have risen to between N1,400 and N1,450 per litre, according to checks cited in the report.
While petrol prices continue to rise, the downstream market has also recorded movement in other products, with the Dangote Refinery reportedly cutting its gantry price for diesel by N100 to N1,600 per litre. The development could influence operating costs for transporters, manufacturers and other businesses heavily dependent on diesel.
The NMDPRA’s position therefore leaves the immediate direction of petrol pump prices largely to market forces, while placing greater emphasis on preventing anti-competitive practices and ensuring that consumers are not subjected to unlawful exploitation.
