The Federal Competition and Consumer Protection Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have signed an agreement to promote transparency, competition and consumer protection in Nigeria’s petroleum sector.
The Executive Vice Chairman of the FCCPC, Tunji Bello, disclosed this at the signing ceremony in Abuja on Thursday.
Bello said the partnership would enable both agencies to share information, improve market intelligence and coordinate enforcement in areas covered by their respective mandates.
He said effective regulation required cooperation between government agencies, adding that the agreement would help strengthen confidence in the petroleum sector.
According to him, competitive and transparent markets would benefit businesses that comply with regulations and serve consumers fairly, while helping to curb exploitative practices.
