Nigeria’s FCCPC expects petrol pump prices to fall
By the AFREEQUE newsroom, based on Punch
Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) expects the fall in the wholesale price of petrol to be passed on to the pump without delay, its executive vice-chairman Tunji Bello said. Brent has fallen from 115 dollars in September to below 90 dollars a barrel, while a litre sells for between 1,325 and 1,420 naira in Lagos and Abuja, according to Punch.
Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) expects the fall in the wholesale price of petrol to be passed on to the pump without undue delay. Its executive vice-chairman, Tunji Bello, said so in a statement issued in Abuja on Tuesday 10 November 2026, according to Punch.
According to him, Brent futures have fallen from a peak of 115 dollars in September to below 90 dollars a barrel this week. Petrol sells for between 1,405 and 1,420 naira a litre in Abuja, and between 1,325 and 1,370 naira in Lagos. On 27 February, the day before the start of the war involving the United States, Israel and Iran, Brent closed at 72.48 dollars and petrol sold for between 839 and 925 naira a litre in Lagos and Abuja.
Tunji Bello notes that distributors attribute the rise over the past eight months to price volatility. "If the fall in crude prices is confirmed, there is no justification for refiners and distributors to keep prices high," he said. The FCCPC will work with the oil sector regulator, the NMDPRA, to monitor prices. It promises to act in the event of anti-competitive or unfair practices.
This statement follows the drop in petrol to 1,410 naira at filling stations announced on 8 November.
