Nigeria’s consumer protection watchdog has intensified surveillance of the downstream petroleum sector as concerns grow over possible petrol price manipulation by petrol marketers. The move comes amid global geopolitical tensions that could affect domestic fuel pricing and disrupt the country’s fragile economic balance.
Authorities say petrol pricing has far-reaching consequences across the economy, influencing transportation costs, food prices, and the overall cost of living. With the ongoing geopolitical tensions involving the United States, Israel and Iran raising concerns about global energy markets, regulators are taking proactive steps to ensure consumers are not exploited.
FCCPC moves to prevent petrol price manipulation
The FCCPC moves to prevent petrol price manipulation as regulators step up monitoring of fuel prices nationwide to protect consumers from unfair market practices.
The development was disclosed by the Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission, Tunji Bello, during a media briefing with State House correspondents at the Presidential Villa in Abuja.
Bello said the commission had deployed monitoring teams across the country to track developments in the petroleum market and ensure that fuel marketers do not manipulate prices to the detriment of consumers.
According to him, the commission is particularly concerned about the potential impact of the ongoing geopolitical conflict on domestic fuel prices.
“We are presently monitoring the situation now, especially the effect of the US, Israeli, Iran war as it affects prices in Nigeria,” Bello said.
Petrol prices influence cost of living
The FCCPC chief emphasised that petrol prices play a critical role in shaping the broader economy because fuel costs directly affect transportation, logistics and the prices of essential goods.
“Petrol has far-reaching effects on some of the things we eat or take on a daily basis,” Bello noted.
In Nigeria, petrol is a major driver of inflation because many businesses depend on fuel to power generators and transport goods across the country.
As a result, any increase in petrol prices often leads to a ripple effect across multiple sectors, including food supply chains, manufacturing, and retail markets.
Monitoring marketers across the country
To address the risk of exploitation, the FCCPC said it has deployed price monitors nationwide to track petrol prices at filling stations.
The commission said it would question marketers who continue to sell petrol at significantly higher prices despite reductions elsewhere in the market.
“If somebody has reduced ₦100 or ₦200 from the price and you are still selling your own for ₦1,500 per litre or ₦1,100 per litre, we should be able to ask you why you are doing that,” Bello stated.
Regulators believe such monitoring will discourage artificial price inflation and protect consumers from unfair pricing practices.
The commission is also collaborating with the Department of Petroleum Resources to strengthen oversight of the petroleum sector and ensure transparency in fuel pricing.
Investigation into airline ticket pricing
Beyond the petroleum market, the FCCPC has also concluded an investigation into alleged price fixing by airline operators during the last Christmas travel season.
According to Bello, the commission began probing the aviation sector following widespread complaints from passengers about sharp increases in ticket prices.
During the festive period, domestic airfare reportedly surged from around ₦145,000–₦150,000 to as high as ₦500,000–₦700,000, raising concerns about possible collusion among airline operators.
The FCCPC chief said the investigation found evidence suggesting that some airlines may have coordinated ticket pricing during the period.
“We investigated the airlines during the Christmas period because what we found was that they colluded to fix prices at that time,” Bello said.
He added that the commission is considering sanctions and may also require airlines found guilty of price manipulation to refund passengers who paid inflated fares.
However, Bello declined to disclose the names of the airlines involved, noting that the commission would release a detailed report after completing the enforcement process.
Electricity and fintech complaints rising
Apart from fuel and aviation pricing issues, the FCCPC also revealed that electricity and financial technology services account for a significant portion of consumer complaints in Nigeria.
Electricity consumers frequently report issues such as estimated billing, lack of prepaid meters and inconsistent power supply.
According to the commission, customers on Band A electricity tariffs—who are expected to receive up to 20 hours of daily power supply—often complain about not receiving the promised level of service.
The FCCPC said it is working with electricity distribution companies to ensure that consumers receive the services corresponding to the tariffs they pay.
In addition, the commission noted that fintech-related complaints have increased in recent years, particularly those involving failed online transactions, digital loan services and delayed refunds.
Consumer complaints leading to recoveries
The FCCPC disclosed that between March and August 2025, the commission successfully resolved more than 9,000 consumer complaints, resulting in the recovery of over ₦10 billion for affected Nigerians.
However, Bello stressed that many Nigerians still fail to formally report issues to the commission, instead expressing their frustrations privately.
“Nigerians sometimes grumble more than they complain,” he said.
He explained that once consumers lodge formal complaints through the commission’s complaint system, each case is assigned a tracking code that allows regulators to investigate and resolve the issue.
Strengthening consumer protection
The FCCPC reaffirmed its commitment to protecting Nigerian consumers from unfair business practices across multiple sectors of the economy.
The commission said it would continue to engage with regulators, industry associations and businesses to promote fair competition and ensure that companies operate within established rules.
With fuel pricing, electricity services and digital financial transactions remaining key concerns for consumers, regulators say stronger oversight will be necessary to maintain market stability and protect citizens from exploitation.
