The Federal Government has scheduled a national stakeholder forum for July 23 and 24, 2025, to address concerns over petrol pricing and supply dynamics in the downstream sector.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will host the summit, which aims to Establish Petroleum Pricing Standards.
The meeting is to deliberate on pricing benchmarks and strategies to stabilize the deregulated market. Discuss ways to guarantee crude oil supply for refineries and to foster dialogue amongst industry operators, marketers, refiners, and government officials to prevent price fluctuations.
The Participants at the summit include:
Independent and major marketers, Refinery operators, Energy economists, Government agencies and regulators, Labour unions and consumer advocacy groups.
The summit is in response to growing agitation by independent marketers for price regulation, amid concerns over sudden changes in petrol prices without prior notice by the Dangote refinery. The NMDPRA has taken steps to standardize pricing while encouraging investment in local refining.
Nigeria currently has 10 operational and near-operational refineries, including the Dangote refinery and six modular refineries, with a combined capacity of 1,124,000 barrels per day.
However, the success of the downstream market hinges on the availability of crude oil feedstock to serve the growing number of licensed refiners.
