NMDPRA sets July 23–24 for petrol pricing summit

|By Adejumo Adekunle-

-Summit aims to address price fluctuations
-Dangote’s price cut sets tone for industry dialogue

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced July 23 and 24, 2025, as the official dates for a national summit on petrol pricing.

The move comes amid growing concerns over unstable pump prices, which have fluctuated between ₦840 and ₦970 in recent months following the full deregulation of the downstream oil sector.

Francis Ogaree, Executive Director of Hydrocarbon Processing Plants, Installation, and Transportation Infrastructure at the NMDPRA, disclosed this at the closing session of the Nigeria Oil and Gas Summit held in Abuja on Thursday.

According to him, the pricing summit will serve as a platform to establish clear standards, address market concerns, and reassure stakeholders and consumers alike about the government’s regulatory oversight.

“It is a work in progress, and that is why at the latter part of this month, exactly on July 23 to 24, a two-day event, we will be talking about petrol pricing,” Ogaree stated.

He emphasized that fuel pricing remains a sensitive subject that varies across countries and requires deliberate policy and stakeholder engagement.

The announcement comes on the heels of persistent advocacy by the National President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, who has repeatedly called for a national forum to discuss the volatility in fuel prices.

In a related development, Dangote Refinery has slashed its ex-depot fuel price from ₦880 to ₦840 per litre, citing a drop in global oil prices. The refinery’s price reduction has triggered a ripple effect, with some independent marketers lowering their retail prices as well.

Ogaree reaffirmed the authority’s commitment to ensuring product quality and fair pricing, noting that the summit will provide regulatory direction and market clarity for all players in the fuel distribution chain.