Nigeria’s petroleum regulator has held discussions with Dangote Refinery, fuel marketers and retailers as it works to prevent anti-competitive pricing in the petrol market. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the consultations are intended to improve the proposed rules governing the sector.
Rabiu Umar, chief executive of the NMDPRA, said the government would no longer tolerate operators he described as racketeers whose activities could undermine or pollute the petroleum industry. He said the authority had received proposals and recommendations from participants across the industry, describing the feedback as evidence of constructive engagement focused on strengthening the sector.
The regulator has also entered into a memorandum of understanding with the Federal Competition and Consumer Protection Commission (FCCPC) to improve coordination between the two agencies. Umar said their responsibilities were not in conflict but were designed to complement one another, making closer cooperation necessary for a stronger regulatory framework across Nigeria’s midstream and downstream petroleum segments.
Umar said the consultation was intended to be substantive rather than symbolic, giving participants an opportunity to help refine the draft regulations. The NMDPRA, he said, would listen to industry views, learn from them and amend the proposals where appropriate.
He added that stakeholder submissions would be considered carefully as part of efforts to bring greater order to the market. Participants were asked to assess the proposed rules for clarity, practical application and their likely effects, while pointing out clauses that might need revision and offering workable alternatives capable of meeting the regulations’ objectives.
Marketers and retailers are also considering whether to lower pump prices after Dangote Refinery reduced its gantry price for petrol by N25. Petrol is currently retailing at between N1,395 and N1,450 per litre in Abuja and surrounding areas.
