The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have signed a Memorandum of Understanding to combat cartel behaviour, price fixing, and other anti-competitive practices in the petroleum sector. FCCPC Executive Vice Chairman Tunji Bello announced the agreement in Abuja, stating it will deepen institutional cooperation and enhance consumer protection. He noted the petroleum sector's strategic importance to the economy and the need for efficient, competitive, and transparent operations.
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