FG targets tougher rules to curb monopoly, market abuse in petroleum sector

The Nigerian government is seeking to introduce tougher regulations to curb monopoly and market abuse in the petroleum sector. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has proposed the Midstream and Downstream Petroleum Prevention of Anti-Competitive Practices and Behaviour Regulations, 2026, which aim to increase transparency and efficiency in the sector while protecting investors and consumers.

The proposed regulations span 138 rules across 23 parts and address issues like monopoly, fuel price fixing, market sharing, abuse of dominance, and discriminatory access to critical infrastructure. However, some stakeholders have expressed concerns that short-term contracts could be discouraged by the draft rules, which may be detrimental to the capital-intensive sector.

The proposed regulations were released for public consultation on August 6, 2026, following concerns over alleged coordinated pricing by fuel importers in the downstream petroleum market.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.