The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has assured Nigerians that the prices of key energy products ;petrol, diesel, and Liquefied Petroleum Gas (LPG) ,will continue to decline nationwide. The announcement comes as many consumers experience a drop in fuel costs at the pumps and gas outlets.
NMDPRA’s Chief Executive Officer, Saidu Mohammed, made the statement on Sunday, January 25, 2026, during an inspection of Aradel Holdings Plc facilities in Ogbele community, Ahoada East Local Government Area of Rivers State. According to him, the continued downward trend in prices is due to improved supply, increased competition, and sustained private sector investment across the oil and gas sector. Mohammed highlighted that rising product availability is already driving price stability in the downstream market. He noted that petrol prices, which at times neared around ₦1,000 per litre, have dropped to approximately ₦800 per litre in some areas due to competitive market dynamics, pointing to the positive impact of deregulation and the removal of fuel subsidies. The regulator explained that the removal of fuel subsidies allowed market forces to function properly, improving efficiency and encouraging greater private participation. This, in turn, has led to more consistent product supply and helped ease cost pressures for Nigerians at the pumps and cooking gas retailers.
Looking ahead, NMDPRA officials reiterated the importance of additional refining capacity and continued investment in the midstream sector. The government believes that expanding refining and processing facilities will further stabilize prices and ultimately support Nigeria’s ambitions to not only meet domestic energy needs but also participate more actively in regional and global petroleum product markets.
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