The Nigerian Midstream and Downstream Petroleum Regulatory Authority says the recent jump in fuel prices is driven by market dynamics, not government interference.
Spokesperson George Ene-Ita explained that under Nigeria’s *deregulated petroleum sector, pump prices respond to supply and demand. Premium Motor Spirit, previously N875–N880 per litre, now sells between *N960 and N1,000 at independent outlets, while NNPC stations charge around N960.
Ene-Ita added that the policy encourages competition, efficiency, and investment in the downstream sector, noting that fluctuations reflect global and local market forces, including the ongoing Middle East crisis.
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