The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says fluctuations in fuel pump prices are a direct result of market dynamics under Nigeria’s deregulated downstream petroleum sector.

The authority’s spokesperson, George Ene-Ita, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday while reacting to the recent increase in fuel pump prices linked to the ongoing Middle East crisis.

He explained that the situation reflects how a deregulated petroleum market operates, where fuel prices respond to supply and demand conditions rather than government regulation.

What they are saying 

Ene-Ita said the variations in pump prices across the country are not due to regulatory interference but are instead driven by supply and demand forces within the market.

Backstory 

Fuel prices in Nigeria have increased in recent days following the escalation of the conflict between Iran and a combined force of Israel and the United States.

On March 3, Nairametrics reported that the Nigerian National Petroleum Company Limited (NNPCL) increased the pump price of Premium Motor Spirit (PMS) at its retail outlets in Abuja to N960 per litre, up from N875, following a surge in global crude oil prices driven by escalating geopolitical tensions in the Middle East.

Dangote Petroleum Refinery also raised its gantry price by N100, bringing the ex-depot rate to N874 per litre from N774.

In response, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, warned that the increase in the price of Premium Motor Spirit by the Dangote refinery would have a ripple effect on the wider economy.

Source：https://nairametrics.com/2026/03/08/fuel-price-fluctuations-driven-by-market-forces-nmdpra/