The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reiterated that it does not set petrol pump prices under Nigeria’s deregulated petroleum market, but said it will intensify surveillance against price-gouging, collusion, under-dispensing and other exploitative practices.
In a statement issued on Saturday, September 19, 2026, the regulator responded to fresh increases in Premium Motor Spirit (PMS) prices and growing concern over the burden on households, transport workers and businesses.
Citing Section 205(1) of the Petroleum Industry Act (PIA) 2021, the NMDPRA said wholesale and retail prices of petroleum products are to be based on unrestricted free-market pricing conditions.
“The Authority does not fix pump prices or issue administrative price templates,” it said.
The regulator added that Sections 205(2) to (4) of the PIA restrict government intervention in petroleum pricing to exceptional circumstances where a formal market failure has been declared.
“No such market failure has been declared,” the NMDPRA said.
Deregulation means pump prices are expected to move with market forces, including supply, demand, costs and competition, rather than an official price template.
Still, the NMDPRA stressed that deregulation does not remove its responsibility to prevent anti-competitive practices. It cited Section 216 of the PIA, which empowers it to prevent price-fixing, anti-competitive conduct and abuse of market dominance.
The authority said it is working with the Nigeria Customs Service and other security agencies to strengthen surveillance along border corridors and prevent the illegal diversion of petroleum products.
It is also collaborating with the Federal Competition and Consumer Protection Commission (FCCPC) under a memorandum of understanding to monitor the market for price-gouging, collusion, under-dispensing and compromised product quality.
The NMDPRA said it would establish dedicated feedback and reporting channels for the public and industry stakeholders to report irregular pricing and other exploitative practices for investigation and enforcement.
The clarification came as petrol prices rose above ₦1,400 per litre in several parts of the country. A Premium Times survey of filling stations in Abuja on Saturday, September 19, 2026, found prices ranging from ₦1,400 to ₦1,450 per litre.
The latest increase followed Dangote Petroleum Refinery’s decision to raise its petrol gantry price from ₦1,265 to ₦1,350 per litre, effective Saturday, September 12, 2026. PUNCH reported that the adjustment was the refinery’s fourth upward review since August 21, 2026.
International crude oil prices have also remained high. Reuters reported that Brent crude futures settled at $104.87 per barrel on Friday, September 18, 2026, down 95 cents from the previous session.
The NMDPRA acknowledged the financial strain caused by the recent increases.
“We are fully sensitive to the pressure this places on households, transport workers, and businesses across the country, and we share in the commitment to seeing relief take root as market conditions stabilise,” it said.
The authority said it remains committed to ensuring energy security, promoting fair competition and protecting consumers within the legal framework established by the PIA.
