Why did Nigeria's antitrust body warn that fuel prices are not falling fast enough?

The Federal Competition and Consumer Protection Commission (FCCPC) warned that pump prices for fuel in Nigeria are not dropping fast enough compared to the sharp decline in global crude oil prices, citing 'token reduction' in prices by operators and 'undue exploitation of consumers'; FCCPC CEO Tunji Bello emphasized that while dealers quickly raise prices when crude prices rise, they delay passing on significant savings to consumers when crude prices fall, violating fair operation of competitive markets.

What role does Aliko Dangote's refinery play in Nigeria's fuel market, and how has it responded to falling crude prices?

Aliko Dangote's refinery — Africa's richest person's 650,000 barrels-per-day facility — supplied 90% of Nigeria's gasoline consumption in May and dominates the domestic fuel market; in response to falling crude prices, the Dangote Petroleum Refinery cut its gantry price of gasoline by around 4% to 1,125 naira per liter (81 cents) on June 26, a move the FCCPC deemed insufficient and 'not commensurate with the steep fall in crude prices in the global market.'

Nigeria Antitrust Body Warns Fuel Prices Not Falling Fast Enough

Jun 28, 2026

Nigeria’s antitrust commission warned fuel prices aren’t dropping fast enough despite falling crude costs, targeting dominant refiner Dangote for potential profiteering. Regulators plan to investigate and sanction operators failing to pass savings to consumers.

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