The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have strengthened efforts to eliminate fuel price fixing, cartel activities and other anti-competitive practices in Nigeria’s deregulated petroleum sector.
The two agencies signed a Memorandum of Understanding (MoU) in Abuja on Thursday to deepen regulatory cooperation through joint market surveillance, intelligence sharing, investigations and enforcement aimed at protecting consumers and promoting fair competition.
Speaking at the signing ceremony, FCCPC Executive Vice Chairman, Tunji Bello, said the partnership would ensure that the petroleum market operates on the principles of transparency, healthy competition and consumer choice rather than collusion and exploitation.
Describing the petroleum industry as a critical pillar of Nigeria’s economy, Bello noted that developments in the sector directly affect transportation costs, food prices, manufacturing and the livelihoods of millions of Nigerians.
He explained that although the FCCPC does not regulate petrol prices in the deregulated downstream market, it has the legal responsibility to investigate and sanction any conduct that undermines competition or exploits consumers.
According to him, the Commission will take decisive action against price fixing, cartel operations, abuse of market dominance, restrictive agreements, market allocation, misleading pricing, product adulteration, under-dispensing and other anti-competitive practices.
“FCCPC and NMDPRA will deepen information sharing, enhance market intelligence, coordinate enforcement activities, and establish clear mechanisms for collaboration on matters that intersect our respective mandates,” Bello said.
He urged consumers to report suspected violations through the appropriate channels, stressing that consumer protection remains at the heart of the Commission’s mandate.
Bello added that the collaboration would also benefit law-abiding petroleum operators by creating a more transparent and predictable business environment.
In his remarks, the Chief Executive of NMDPRA, Rabiu Abdullahi Umar, said the partnership would strengthen regulatory oversight across the entire petroleum value chain, including refining, processing, transportation, storage, wholesale distribution and retail operations.
Umar said both the Petroleum Industry Act (PIA) 2021 and the Federal Competition and Consumer Protection Act (FCCPA) 2018 provide the legal framework for collaboration between the two agencies.
He noted that both institutions had been working together since 2022 and that the MoU now provides a structured operational framework for joint action.
“Today, we translate that statutory mandate into an actionable operational framework,” Umar said.