Nigeria clamps down on fuel price gouging amid deregulation push

Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri, urged industry stakeholders to tighten monitoring of petrol sales and ensure that deregulation does not become a pretext for profiteering. He stressed that customers must receive the exact quantity paid for and that prices should reflect recent global crude‑oil price declines.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced it will sanction oil marketers selling Premium Motor Spirit above market‑reflective pump prices. The regulator, working with security agencies and the Federal Competition and Consumer Protection Commission, warned that price‑gouging will trigger regulatory action. Both statements linked the reforms to the operationalisation of the Dangote Refinery and other domestic refining projects.