The Federal Competition and Consumer Protection Commission (FCCPC) has warned petroleum marketers to reduce the pump price of petrol or face sanctions.
The commission said marketers are expected to adjust their prices in line with prevailing market conditions, stressing that consumers should not be made to bear unjustified costs.
According to the FCCPC, it will continue to monitor fuel pricing across the country and will not hesitate to take regulatory action against marketers found engaging in unfair or exploitative pricing practices.
The agency reaffirmed its commitment to protecting consumers' interests and ensuring transparency and fairness in Nigeria's downstream petroleum sector.
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