The Federal Government on Monday convened a meeting with Dangote Refinery, the Federal Competition and Consumer Protection Commission (FCCPC), and major petroleum marketers to address the persistent gap between falling global crude oil prices and high domestic pump prices of Premium Motor Spirit (PMS).
The Federal Government has ordered petroleum marketers to reduce pump prices of Premium Motor Spirit (PMS) and other products to reflect the recent fall in global oil prices.
The Federal Competition and Consumer Protection Commission (FCCPC) has raised concerns over possible consumer exploitation in Nigeria’s downstream petroleum sector, noting that fuel prices have not declined significantly despite a sharp drop in global crude oil prices.
Despite the Dangote Refinery’s reduction of Jet A1 price to ₦1,650 per litre, aviation fuel continues to sell at ₦1,900–₦2,000 per litre across Nigeria, checks by Daily Trust revealed.
The Nigerian Communications Commission (NCC) has announced that telecom subscribers will begin receiving compensation for poor quality of service from today.
