LALIGA TITLE RACE: REAL MADRID FALL SIX POINTS BEHIND BARCELONA AFTER DERBY DEFEAT. (PHOTO).

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 LaLiga Title Race: Real Madrid Fall Six Points Behind Barcelona After Derby Defeat Real Madrid's pursuit of the domestic title suffered a massive setback on Sunday evening following a tense 2-1 defeat to Atletico Madrid at the Wanda Metropolitano. The loss leaves Jose Mourinho’s side trailing league leaders Barcelona by six points, placing immense pressure on the club early in the season. Derby Drama and a Costly Red Card The match was poised for a classic battle, with Real Madrid eager to keep pace with Barcelona, who had secured a victory against Sevilla the previous day. However, the dynamics of the derby shifted dramatically when Dean Huijsen was shown a straight red card, reducing Real Madrid to ten men. Adding insult to injury, Atletico were awarded a penalty immediately after the dismissal. Alejandro Grimaldo confidently stepped up to convert the spot-kick, putting the home side in front and leaving the visitors with a mountain to climb. Atletico Capitalize on Numerical Adv...
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NMDPRA EXPLAINS WHY THE AUTHORITY CANNOT FIX PETROL PRICES IN NIGERIA. (PHOTO). #PRESS RELEASE.

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NMDPRA explains why the Authority cannot fix petrol prices in Nigeria


THE AUTHORITY

 PRESS STATEMENT NMDPRA DOES NOT FIX PETROL PUMP PRICE UNDER THE PETROLEUM INDUSTRY ACT (PIA)

   The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) acknowledges the deep financial strain and difficulties many Nigerians are experiencing following the recent rise in Premium Motor Spirit (PMS) pump prices. We are fully sensitive to the pressure this places on households, transport workers, and businesses across the country, and we share in the commitment to seeing relief take root as market conditions stabilise. To provide clarity on the statutory framework governing our operations and the active steps being taken to protect consumers, the Authority states as follows: 1. Statutory Market Framework Pursuant to the Petroleum Industry Act (PIA) 2021: Section 205(1) provides that wholesale and retail prices of petroleum products shall be based on unrestricted free market pricing conditions. The Authority does not fix pump prices or issue administraive price templates. Section 205(2)-(4) restricts government intervention in pricing strictly to exceptional circumstances where there is formal evidence of declared market failure. No such market failure has been declared. Section 216 empowers the Authority to prevent anti-competitive practices, price-fixing, and the abuse of market dominance. 2. Inter-Agency Enforcement and Border Surveillance To address supply stability and curb illegal cross-border product diversion: The Authority is conducting a joint security effort with the Nigeria Customs Service and other relevant security agencies to intensify surveillance along border corridors and prevent product smuggling. 3. Consumer Protection and Market Monitoring Deregulation does not exempt operators from regulatory compliance or fair trade standards.

 FCCPC Collaboraion: Under our formal Memorandum of Understanding (MoU) with the Federal Competition and Consumer Protection Commission (FCCPC), both agencies maintain rigorous joint surveillance to monitor against price-gouging, collusion, under-dispensing, and compromised product quality. Public Reporting Channels: The Authority is opening dedicated feedback and reporting channels to enable members of the public and industry stakeholders to report irregular pricing or exploitative trade practices directly for immediate regulatory investigation and enforcement. The NMDPRA remains steadfast in fulfilling its statutory mandate to ensure energy security, foster fair competition, and protect consumers within the PIA's legal framework. 

Signed: Management Nigerian Midstream and Downstream Petroleum Regulatory Authority

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