The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure petroleum marketers do not exploit consumers through excessive fuel pricing despite the deregulated downstream market.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the recent decline in global crude oil prices should be reflected in lower petrol prices, stressing that while market forces determine prices, the regulator must prevent profiteering and protect consumers.

He also instructed the NMDPRA to intensify monitoring of filling stations to ensure motorists receive the correct quantity of fuel they pay for.

The directive comes as depot prices have recorded slight reductions across several parts of the country, although pump prices at filling stations have remained largely unchanged. Industry operators attributed the delay to existing fuel inventories purchased at higher prices, exchange rate pressures and efforts by marketers to recover previous losses.

The Nigeria Labour Congress (NLC) criticised the slow reduction in pump prices, accusing the Federal Government of allowing excessive market concentration in the downstream sector. The labour union called for stronger competition and tighter regulatory oversight to ensure Nigerians benefit from lower global crude oil prices.