Index to Nigerian Newspapers

The Nigeria Midstream and Downstream Petroleum Regulatory Authority has assured that it would protect consumers from exploitative action following plans by oil marketers to begin fuel importation. The NMDPRA Chief Executive, Farouk Ahmed, gave the assurance while briefing journalists shortly after a meeting with oil marketers.

Already, three oil marketers will from July this year start importing petroleum products into the country according to the NMDPRA boss. Speaking on the outcome of the meeting, Farouk said the issue of pricing of petrol was discussed with the oil marketers and it was agreed that there will not be capping of prices to allow the forces of demand and supply to determine prices.

He also said during the meeting, the oil marketers agreed to improve their level of collaboration with security agencies to ensure the smooth movement of petroleum products.