Business

NMDPRA speaks on petrol price rise, regulatory action

Published

2 weeks ago

September 20, 2026

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has acknowledged the financial strain caused by the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.

The authority said it is aware of the impact of the price increase on households, transport workers and businesses across the country.

In a statement issued on Saturday, the NMDPRA said it remains committed to ensuring that consumers are protected within the framework of Nigeria’s deregulated petroleum market.

“We are fully sensitive to the pressure this places on households, transport workers, and businesses across the country, and we share in the commitment to seeing relief take root as market conditions stabilise,” the authority said.

The statement comes as petrol prices have risen above N1,400 per litre in several parts of the country.

Nigeria exposed to global oil shock

The latest increase followed an N85 adjustment in the gantry price of petrol by the Dangote Petroleum Refinery, from N1,265 to N1,350 per litre, amid a surge in international crude oil prices.

A survey of filling stations in Abuja on Saturday morning showed significant variations in pump prices, with some outlets selling petrol for between N1,400 and N1,450 per litre.

This compares with prices of about N1,200 to N1,300 per litre recorded at several outlets in the previous month.

The latest increase came after a period of easing in petrol prices following expectations that the conflict in the Middle East would de-escalate and disruptions to shipping through the Strait of Hormuz would ease.

Although Nigeria is a major crude oil producer, the country remains exposed to developments in the international oil market.

Changes in global crude prices can affect the domestic petroleum market through the cost of crude feedstock, refined products, freight and other supply-chain expenses.

The increase in Dangote Refinery’s wholesale petrol price has consequently translated into higher prices at filling stations.

Brent crude, the international benchmark relevant to Nigeria’s oil market, closed at $104.87 per barrel on Friday, according to Reuters.

The disruption of shipping through the Strait of Hormuz has become a major concern for global energy markets because the waterway is a critical route for crude oil and refined-product shipments.

For Nigeria, developments in the international oil market can feed into the cost of transportation, logistics, electricity generation and other economic activities dependent on petroleum products.

‘We don’t fix petrol prices’

The NMDPRA said its role in the downstream petroleum sector is governed by the Petroleum Industry Act (PIA) 2021.

It said Section 205(1) of the Act provides that wholesale and retail prices of petroleum products shall be based on unrestricted free-market pricing conditions.

“The Authority does not fix pump prices or issue administrative price templates,” it said.

According to the authority, Sections 205(2)-(4) restrict government intervention in petroleum-product pricing to exceptional circumstances where there is formal evidence of a declared market failure.

“No such market failure has been declared,” the authority said.

It added that Section 216 of the PIA empowers it to prevent anti-competitive practices, price-fixing and abuse of market dominance.

The authority also said it was working with the Nigeria Customs Service and other security agencies to strengthen surveillance along border corridors.

The move, it said, is aimed at improving supply stability and curbing the illegal cross-border diversion of petroleum products.

The NMDPRA stressed that deregulation does not exempt petroleum operators from regulatory compliance or fair-trade standards.

It said it was working with the Federal Competition and Consumer Protection Commission (FCCPC) under a formal memorandum of understanding to monitor the market.

The agencies are jointly monitoring for alleged price-gouging, collusion, under-dispensing and compromised product quality, the NMDPRA said.

The authority also said it was opening dedicated feedback and reporting channels through which members of the public and industry stakeholders can report irregular pricing and exploitative trade practices for investigation and enforcement.

The NMDPRA said it remained committed to its statutory mandate of ensuring energy security, promoting fair competition and protecting consumers within the legal framework of the PIA.

Related Topics:action NMDPRA petrol price regulatory Rise speaks

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Zenith, Fidson, NEM top stock pick this week

Published

7 hours ago

October 5, 2026

PlateauReports

Nigerian stocks slightly depreciated last week, sliding by 0.5 per cent as sell pressure on bank equities weighed on the main stock index.

All but the insurance index dropped out of the five sector indexes tracked by the Nigerian Exchange.

“Investor positioning ahead of Q3:2026 earnings should provide additional support, particularly as expectations build around the Tier-1 banks’ results,” analysts at Meristem Securities said in a note to investors ahead of the week.

“The ongoing impact of Nigeria’s FTSE Russell reclassification should also keep trading activity elevated and sustain interest in eligible large-cap stocks,” they added.

The release of companies’ Q3 earnings reports is expected to begin soon.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

READ ALSO: DN Tyre & Rubber, Greif Nigeria delisted from Nigerian Exchange

Zenith Bank

Zenith tops this week’s list for its strong fundamentals and for trading below its intrinsic value. The net profit ratio (NPR) of the lender is 21.8, while the price-to-earnings (PE) ratio is 5.3x. Its 14-day relative strength index (RSI) is 68.

Fidson Healthcare

Fidson appears on the pick on the basis of its attractive fundamentals. The NPR of the pharmaceutical company is 7.8, while the PE ratio is 18.8x. The 14-day RSI is 51.2.

NEM Insurance

NEM makes the selection for its strong fundamentals and for trading below its intrinsic value. The insurer’s NPR is 15.7, while the PE ratio is 5.6x. Its 14-day RSI is 43.2.

Stanbic IBTC Holdings

Stanbic IBTC makes the cut for its sound fundamentals. The NPR of the banking group is 34.5, while PE ratio is 5.9x. The 14-day RSI is 69.5.

Aradel Holdings

Aradel makes the cut for its sound fundamentals. The NPR of the energy company is 28.4, while the PE ratio is 8.7x. The RSI is 50.8.

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Business

NAIPE 11th Annual Conference Moves to 12 Noon as 28 Stakeholders Back Event

Published

15 hours ago

October 5, 2026

PlateauReports

About 28 insurance and pension regulators and operators have backed the upcoming 11th edition of the Nigerian Association of Insurance and Pension Editors (NAIPE) Annual Conference, scheduled to hold in Lagos.

This is even as the timing of the event scheduled to hold on Thursday, October 8, 2026, at Oriental Hotel, Victoria Island, Lagos, has been shifted from 9:00am to 12:00pm same day.

This is to allow Insurance operators, who will be attending Insurers Committee meeting earlier that day, conclude their meeting and attend the conference.

The national conference with a focus on the emerging market dynamics in Nigeria’s insurance and pension sectors, follows the just concluded recapitalisation exercise in the insurance sector and ongoing exercise in the pension industry.

Themed: “Post-Recapitalisation and Market Dynamics in Insurance & Pension Sectors,” the Chief Executive Officer of United Capital Asset Management Limited, Dr. Odiri Oginni, will deliver the keynote address, focusing on the insurance perspective while Mr. Oguche Aguda,
Founder and Managing Partner of HRISP Partners, will equally deliver a paper on the theme, focusing on the pension perspective.

The Group Managing Director of Custodian Investment Plc, Mr. Wole Oshin, will chair the event.

According to NAIPE, the conference is coming at a critical period for the two sectors, as insurance operators have just concluded their recapitalisation exercise, while pension operators are expected to conclude theirs in 2027.

The high level discourse will therefore examine how funds raised through recapitalisation can be strategically invested and deployed to generate stronger returns, deepen market confidence and improve service delivery to shareholders and policyholders.

Expected dignitaries include the Commissioner for Insurance & Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin; Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran; chief executives of insurance companies, broking firms, investment and securities companies and Pension Fund Administrators (PFAs), as well as regulators, labour unions, students and other stakeholders.

Speaking ahead of the conference, Chairperson of NAIPE, Mrs. Ebere Nwoji said, the annual gathering provides a platform for insurance and pension journalists to contribute to the development of both sectors by promoting greater public understanding of insurance and pension as instruments for financial security and protection against old-age poverty.

Nwoji expressed appreciation to operators and regulators in the two sectors for their continued support for the conference, stressing that, the benefits derived from the annual event outweigh the resources committed to organising it.

She described this year’s theme as timely, given the significant structural changes taking place in the insurance and pension industries through recapitalisation.

She noted that, the insurance industry concluded its recapitalisation exercise on July 31, 2026, while the pension industry is currently undergoing a similar process expected to be completed next year.

The NAIPE chairperson, particularly, commended the leadership of NAICOM for successfully concluding the insurance industry’s recapitalisation exercise, describing it as a major achievement for Omosehin.

According to her, the Commissioner ‘took the bull by the horns’ in breaking what she described as the longstanding cycle of inconclusive recapitalisation exercises in the insurance industry.

She also expressed optimism that the pension industry, under the leadership of Ms. Omolola Oloworaran, would achieve a seamless and successful recapitalisation exercise.

“The conference would provide operators with an opportunity to gain insights into prudent and judicious investment of the capital raised through the recapitalisation process.

“I am confident that speakers at the event would provide practical perspectives on how insurance and pension operators can deploy their strengthened capital bases to deliver superior investment returns while enhancing value for investors, shareholders and policyholders” she affirmed.

Meanwhile, NAICOM, PenCom, SanlamAllianz, Veritas Kapital and 24 others have offered their support and partnership towards the conference.

The post NAIPE 11th Annual Conference Moves to 12 Noon as 28 Stakeholders Back Event appeared first on Business Today NG.