The Nigerian Association of Road Transport Owners (NARTO) has urged key regulatory bodies to intervene decisively in Nigeria’s downstream oil sector, warning that alleged monopolistic practices are driving fuel prices higher and worsening economic hardship.
In a statement issued at the weekend, NARTO called on the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure a competitive and transparent market environment.
The association argued that recent developments in the supply and distribution chain suggest a growing concentration of market power in the hands of a few operators. According to NARTO, this trend undermines fair pricing mechanisms and places independent marketers and transporters at a disadvantage.
“Competition is the backbone of a healthy market,” the group stated, noting that without adequate regulatory oversight, dominant players could dictate prices and restrict access to products. Such a scenario, it warned, would not only inflate pump prices but also disrupt nationwide distribution logistics.
NARTO emphasized that both the FCCPC and NMDPRA have clear statutory mandates to prevent anti-competitive conduct, protect consumers, and promote market efficiency. It urged the agencies to conduct a thorough review of supply arrangements, pricing structures, and distribution frameworks within the sector.
The association further stressed that timely intervention would restore confidence among stakeholders, stabilize fuel supply, and cushion the impact of rising transportation costs on ordinary Nigerians.
As fuel prices remain a sensitive issue in the country’s fragile economy, NARTO maintained that safeguarding competition is essential to preventing artificial scarcity and ensuring that the benefits of deregulation are not eroded by monopolistic control.
SOURCE: GloryBrown
