NMDPRA says it cannot fix petrol prices, steps up surveillance against price-gouging

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) cannot set petrol pump prices, but it will increase surveillance against price-gouging and other exploitative practices in the deregulated petroleum market. On September 19, 2026, the Authority announced this amid the recent rise in Premium Motor Spirit (PMS) prices.

Petroleum prices across major Nigerian cities have risen, with retail outlets now selling PMS between N1,400 and N1,450 per litre. The NMDPRA clarified that it does not determine wholesale or retail prices, as wholesale and retail prices are determined under unrestricted free-market pricing conditions under Section 205(1) of the Petroleum Industry Act.

The Authority stated that it will not intervene unless there is evidence of market failure, which has not been declared. Deregulation does not exempt operators from regulatory requirements or fair-trade standards, and the NMDPRA is collaborating with the Federal Competition and Consumer Protection Commission (FCCPC) to monitor the market for irregular pricing, collusion, under-dispensing, and compromised product quality.

The NMDPRA is opening dedicated reporting channels for members of the public and industry stakeholders to report irregular pricing and exploitative practices for regulatory investigation and enforcement. The latest petrol price increase has also raised transportation costs, prompting calls for measures to reduce pressure on households, workers, and businesses.