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FCCPC Warns Petrol Marketers Against Exploitative Pricing, Threatens Sanctions
FCCPC Warns Petrol Marketers Against Exploitative Pricing, Threatens Sanctions
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to petroleum marketers across the country, cautioning them against exploitative pricing of Premium Motor Spirit (PMS), popularly known as petrol, and vowing to sanction operators found engaging in unfair market practices.
The Commission expressed concern over the continued high retail price of petrol despite recent improvements in global crude oil prices and local supply conditions, insisting that consumers should begin to benefit from changing market realities.
The warning comes amid growing public dissatisfaction over the cost of fuel, which has remained significantly high months after international oil prices stabilised and supply chain disruptions eased.
According to the FCCPC, the sharp increase in petrol prices witnessed earlier this year was largely driven by rising crude oil prices triggered by geopolitical tensions in the Gulf region between April and May. During the period, pump prices of petrol surged to between ₦1,350 and ₦1,500 per litre in many parts of Nigeria, while diesel prices climbed to almost ₦2,000 per litre.
The Commission recalled that before the market disruptions, petrol sold for between ₦800 and ₦900 per litre in February. However, despite relative stability returning to the international oil market and improvements in domestic supply, the average retail price of petrol has remained around ₦1,200 per litre nationwide.
The FCCPC noted that current pricing by some local refineries suggests there should be greater room for downward adjustments in retail pump prices. According to the Commission, several domestic refiners are presently selling petrol at gantry prices ranging between ₦1,025 and ₦1,075 per litre, a development that should ordinarily encourage more competitive pricing among marketers.
While acknowledging that the pricing of petroleum products is influenced by multiple economic variables, including foreign exchange rates, transportation costs, financing expenses, refining costs and distribution logistics, the Commission maintained that these factors do not justify arbitrary or exploitative pricing.
It stressed that the deregulation and liberalisation of Nigeria’s downstream petroleum sector do not grant marketers unrestricted freedom to impose excessive prices on consumers.
Speaking on behalf of the Commission, Mr. Bello emphasised that operators in the downstream petroleum industry remain bound by the provisions of the Federal Competition and Consumer Protection Act, regardless of the liberalised nature of the market.
He said market liberalisation must go hand in hand with fair competition and responsible business conduct, warning that the Commission would not hesitate to investigate any credible allegation of anti-competitive practices or consumer exploitation.
According to him, “Market liberalisation does not diminish businesses’ obligations to compete fairly or consumers’ right to fair treatment. Where credible evidence indicates conduct that undermines competition, exploits consumers or otherwise contravenes the Federal Competition and Consumer Protection Act, the Commission will investigate and take appropriate enforcement action.”
The FCCPC further warned that any evidence of price fixing, collusion among marketers, cartel behaviour or other anti-competitive agreements designed to keep fuel prices artificially high would attract severe regulatory sanctions.
The Commission also called on Nigerians to play an active role in protecting consumer rights by reporting suspicious pricing patterns, misleading price claims and other unfair market practices through its official complaint channels.
Industry observers believe the Commission’s intervention could increase regulatory scrutiny in the downstream petroleum sector, particularly as Nigerians continue to grapple with the rising cost of living and demand greater transparency in fuel pricing.
The FCCPC reiterated its commitment to promoting fair competition, protecting consumers from exploitation and ensuring that the benefits of market liberalisation are reflected in competitive prices rather than excessive profit-taking at the expense of ordinary Nigerians.
FCCPC Warns Petrol Marketers Against Exploitative Pricing, Threatens Sanctions
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Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria
Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria
President Bola Ahmed Tinubu has departed Paris, France, for Nigeria, bringing to an end his extended working vacation in Europe, with his aircraft expected to arrive at the Murtala Muhammed International Airport, Lagos, later Tuesday.
The President left Abuja on August 30 for London to begin his working vacation and subsequently moved to Paris, where he held official engagements, including meetings with French President Emmanuel Macron and business leaders.
His stay, initially expected to last about three weeks, was extended by the Presidency, which announced on September 21 that Tinubu would return to Nigeria after a few additional days.
In a statement on Tuesday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that Tinubu had departed Paris for Nigeria.
Onanuga said the President’s aircraft was expected to touch down in Lagos later in the day.
According to the presidential spokesman, Tinubu chose to return through Lagos to honour the memory of the late Chief Moshood Kashimawo Olawale Abiola, widely associated with the struggle for the restoration of democratic rule in Nigeria.
The President is also expected to participate in activities surrounding Nigeria’s 66th Independence Anniversary on October 1 before returning to Abuja.
Tinubu’s prolonged absence from the country had generated public debate, particularly after he did not personally attend the 81st United Nations General Assembly in New York, where Vice President Kashim Shettima represented Nigeria.
The Presidency, however, maintained that Tinubu remained engaged with the affairs of government throughout his stay abroad. It said he continued to issue directives and conduct official business remotely while Vice President Shettima and other senior government officials represented him at various engagements.
During his stay in France, Tinubu also held talks with Vincent Bolloré of the Bolloré Group on expanded investments in Nigeria’s creative and digital economy. The State House said the discussions covered areas including film, entertainment, fibre-optic infrastructure and related sectors.
His return comes as the administration continues to focus on its economic reform programme, infrastructure development, energy transition and investment drive.
The President is expected to remain in Lagos for the Independence anniversary activities before returning to Abuja.
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Agbede Mourns Baba Alado, Says Mushin Has Lost Pillar of Peace
Agbede Mourns Baba Alado, Says Mushin Has Lost Pillar of Peace
Mushin community in Lagos has lost one of its foremost voices for peace, dialogue and stability with the death of a prominent community leader and grassroots mobiliser, Chief Alhaji Taoreed Faronbi, popularly known as Baba Alado.
Former Chairman of the National Union of Road Transport Workers, Lagos State Council, Alhaji (Chief) Tajudeen Agbede, who is also the Balogun of Agege, described the death of the 83-year-old community leader as a monumental loss to Mushin, Lagos State and the transport union family.
Baba Alado, the Olori Ebi of the Alagbeji Royal Family in Papa Ajao and Babaloja of Aswani International Market, died in the early hours of Saturday, September 26, 2026.
In a condolence message personally signed on Sunday in Lagos, Agbede said the late community leader played a crucial role in maintaining peace and stability in Mushin, particularly during his tenure as chairman of the Lagos State NURTW.
According to him, Baba Alado was more than a community leader, as he served as a trusted bridge-builder whose counsel often helped to prevent disagreements from escalating into crises.
“During my tenure as Lagos NURTW Chairman, Baba Alado was a formidable force for peace and stability, especially in the Mushin axis, which remains strategic to union activities.
“At moments when tension arose, Baba Alado’s timely intervention, fatherly counsel and authoritative voice helped us maintain peace and brotherhood among members. He was not a distant leader.
“He was a constant, regular and respected face at every major union activity and event organised under my chairmanship,” Agbede stated.
The former NURTW boss said Baba Alado’s influence extended beyond the transport sector, noting that he promoted dialogue and understanding among transport workers, market traders, youths and traditional leaders in Mushin.
Agbede described the deceased as a detribalised leader and devout Muslim who devoted his life to the progress of his community and the welfare of those around him.
“He was a good adviser, a detribalised leader and a devout Muslim who touched many lives. His wisdom, calm disposition and steadfast commitment to the progress of Mushin and Lagos State will be long remembered,” he added.
Agbede extended his condolences to the wives and children of the deceased, members of the Alagbeji Royal Family, the Chairman of Mushin Local Government, Hon. Tunbosun Haruna Aruwe, and the people of Mushin.
He also commiserated with the Lagos State Chairman of the NURTW, Alhaji Mustapha Adekunle, popularly known as Sego, as well as members of the transport union family.
Agbede prayed Almighty Allah to forgive Baba Alado’s shortcomings, accept his good deeds and grant him Aljannah Firdaus.
He also prayed for Allah’s comfort and fortitude for the deceased’s family and all those mourning his passage.

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“What Is Tinubu Doing in Paris?” — Atiku’s Aide Challenges Presidency
“What Is Tinubu Doing in Paris?” — Atiku’s Aide Challenges Presidency
By Our Correspondent
The media aide to former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, Paul Ibe, has challenged the Presidency to publish details of President Bola Ahmed Tinubu’s substantive engagements in Paris and the outcomes of his activities during his prolonged stay in France.
Ibe made the demand on Monday, September 28, 2026, amid renewed questions over Tinubu’s continued absence from Nigeria after the period initially announced for his three-week working vacation.
Tinubu left Nigeria on August 30 for London to begin what the Presidency described as a three-week annual working vacation. He subsequently travelled to Paris, where he held meetings with French President Emmanuel Macron and French businessman Vincent Bolloré.
Ibe said Nigerians deserved sufficient information about the official engagements being undertaken by Tinubu in France, arguing that the Presidency should provide details that would enable the public to assess the purpose and outcome of the President’s extended stay abroad.
According to him, the issue was not whether the President was “hale and hearty”, but why his stay abroad had continued beyond the period initially announced by the Presidency.
“The Presidency should publish Tinubu’s substantive engagements and their outcomes. Nigerians can then judge whether this prolonged absence is justified,” Ibe said, according to a report published on Monday.
The Atiku aide also questioned the reference to the proposed $7 billion Ogun deep-seaport project as part of the explanation for Tinubu’s activities in France.
He noted that the agreement was between the Ogun State Government and DP World, with Tinubu witnessing the signing, and questioned its relevance to the justification for the President’s prolonged stay in France.
The Presidency, however, has maintained that Tinubu’s absence from Nigeria does not mean he has stopped performing his presidential duties.
In a September 21 statement, Special Adviser to the President on Information and Strategy, Bayo Onanuga, said Tinubu had extended his working vacation by a few days and would return to Nigeria at the weekend.
The Presidency said the President had remained in contact with officials at home and continued directing government affairs while abroad. It cited, among other activities, Tinubu’s decision to order an independent panel to investigate the deaths of 37 illegal miners in Minna.
The State House also confirmed that Tinubu met Bolloré in Paris on September 18 over plans to deepen investment in Nigeria’s creative and digital economy.
According to the Presidency, the discussions covered areas including film, entertainment and fibre-optic infrastructure, with the Bolloré Group indicating plans to deepen its operations and investments in Nigeria.
Ibe also questioned Tinubu’s decision to remain in France while the 81st United Nations General Assembly was taking place in New York.
Vice-President Kashim Shettima represented Nigeria at the UN General Assembly, while Tinubu remained in Europe. The Presidency explained that Shettima was representing the President and would deliver Nigeria’s national statement at the global gathering.
Ibe contrasted Tinubu’s continued stay in France with French President Emmanuel Macron’s movements, noting that Macron had hosted Tinubu in Paris before travelling to New York for the UN General Assembly.
“Meanwhile, Emmanuel Macron, who hosted Tinubu at the Élysée Palace, travelled to New York for UNGA and returned while Tinubu remained in France on housekeeping duties,” Ibe said.
Tinubu’s prolonged stay has continued to generate political debate, particularly following reports that his expected return to Nigeria had been postponed.
TheCable reported on September 27 that the President’s return plans had been changed at the last minute, with Tuesday being reported as the likely new return date. The reason for the change was not immediately disclosed.
The development has also triggered debate over Section 145 of the Nigerian Constitution, which deals with the President’s absence from office and the transmission of written declarations concerning vacation or inability to discharge presidential functions.
Atiku and his media aide have previously questioned whether the constitutional procedure was followed during Tinubu’s prolonged absence. The Presidency and other government officials have maintained that Tinubu remains in charge of the country’s affairs.
The latest exchange has therefore centred on two positions: the Presidency’s assertion that Tinubu has continued to conduct official business from abroad, and the opposition’s demand for greater disclosure about the President’s activities and the reasons for his extended stay in France.
“What Is Tinubu Doing in Paris?” — Atiku’s Aide Challenges Presidency
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