The National Motorists and Drivers Protection Regulatory Authority (NMDPRA) has issued a statement clarifying that it does not set or fix petrol pump prices in Nigeria.
In a response to recent media reports, the authority said that the pricing of fuels is governed by the Petroleum Industry Act, which establishes a free‑market framework for determining petrol costs.
Under the Act, fuel distributors and petrol stations are free to set their own prices based on market conditions, supply and demand, rather than any regulatory body imposing fixed rates.
The NMDPRA’s clarification comes amid ongoing public concerns about fuel price volatility and the role of government agencies in regulating the sector.
By reaffirming that it does not intervene in price setting, the authority aims to dispel confusion and emphasise that market forces, not regulatory mandates, drive the cost of petrol at Nigerian pump stations.
<small>Source: Punch Nigeria — read the original story there.</small>
