Fuel price reduction: NMDPRA announces date for petrol pricing summit

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has announced July 23 and 24, 2025, as the dates for premium motor pricing summing.

Francis Ogaree, the Executive Director of Hydrocarbon Processing Plants, Installation, and Transportation Infrastructure at the NMDPRA, disclosed this in his remarks at the end of the just concluded Nigeria Oil and Gas Summit in Abuja on Thursday.

His confirmation comes amid the consistent call by the National President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, for a summit to address incessant petrol price fluctuations in Nigeria.

Recall that prices had fluctuated around N840 to N970 for the last months owing to the liberation of the downstream oil sector.

Reacting, Ogaree noted that NMDPRA as a regulator was committed to ensuring quality petroleum products and fair prices nationwide.

“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.

“Again, that is to allay some fears and put in some standards. The issue of pricing, everyone knows that it is a sensitive one and peculiar from one country to another, and the authority is working,” he said.

Media Talk Africa reports that Dangote Refinery recently reduced its ex-depot fuel price to N840 per litre from N880 at the back of the global oil price drop.

Some marketers had also reduced their petrol retail prices following Dangote Refinery’s price drop.