The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it cannot simply impose a fixed pump price for petrol because the Petroleum Industry Act, 2021, provides for market-based pricing.
According to a Daily Post Nigeria report indexed by Google News, the authority said government intervention is restricted to exceptional situations where there is formal evidence of a declared market failure. It added that NMDPRA does not issue administrative templates for petrol pump prices.
The regulator said its role is instead to discourage anti-competitive conduct, including price-fixing and abuse of market dominance. It also said it is working with the Nigeria Customs Service and other security agencies to monitor border corridors, tackle smuggling and protect consumers.
NMDPRA further pointed to joint surveillance with the Federal Competition and Consumer Protection Commission to watch for collusion, under-dispensing and poor product quality. The position comes as higher petrol prices continue to put pressure on households, transport workers and businesses across Nigeria.
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