Minister Lokpobiri Urges NMDPRA to Protect Fuel Consumers

On Monday, during a keynote address at the NMDPRA General Counsel and Legal Advisors Forum in Abuja, Heineken Lokpobiri, the Minister of State for Petroleum Resources, charged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to prevent fuel marketers from exploiting Nigerians through excessive pricing. He highlighted that while the downstream sector is fully deregulated, it is crucial that this deregulation does not become a means for profit at the expense of consumers.

Lokpobiri noted the recent decline in global crude oil prices from $120 per barrel to $72 per barrel, which has not yet translated into lower petrol prices for Nigerians. He called on the NMDPRA to intensify monitoring efforts to ensure consumers receive the correct quantity of fuel purchased at filling stations.

Lokpobiri stressed the importance of regulatory certainty to foster investment confidence in Nigeria's petroleum sector.