The Federal Government of Nigeria has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure petroleum marketers do not exploit citizens through excessive pricing.

Depot prices for Premium Motor Spirit (petrol) have eased across several terminals in Lagos, while diesel prices have seen a sharp decline, as petroleum marketers adjust to shifting supply dynamics.

The Nigerian Federal Government has directed petroleum marketers and industry regulators to reduce fuel prices and end profiteering. This directive comes amidst high fuel prices in the country.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for immediate reductions in fuel prices, citing the recent decline in international crude oil prices. The association urged marketers to adjust prices to reflect current market realities for consumers.

The Nigerian federal government is engaging with petroleum marketers and industry regulators, urging them to reflect the global drop in oil prices in the pump prices of Premium Motor Spirit (PMS). This move aims to address concerns over high fuel prices in the country.

Chinedu Anyaso, the Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has announced his intention to contest for the Nnewi North/Nnewi South/Ekwusigo Federal Constituency seat in Anambra State.