The Economic Regulation & Planning Directorate of the National Petroleum (NPA) monitors the supply and consumption of petroleum products around the country to ensure that there are adequate stocks of petroleum products to meet the needs of the country.

This is done by effectively planning the importation of petroleum products, ensuring the equitable distribution of products, and regularly monitoring of the stocks of petroleum products nationwide. It also ensures that petroleum products meant for re-exportation are indeed re-exported to avoid dumping of such products into the country.

The Directorate regularly monitors the prices of petroleum products to ensure that Bulk Distribution Companies (BDCs) and Oil Marketing Companies (OMCs), including LPGMCs, set their prices in accordance with the Prescribed Petroleum Pricing Formula.

The Directorate also conducts a periodic review of the Prescribed Petroleum Pricing Formula, in consultation with Petroleum Service Providers and all relevant stakeholders, and publishes the prices in the gazette.

It ensures that the prescribed petroleum pricing formula achieves the objective of ensuring full cost recovery of investment, generation of revenue for government and uniformity of prices of petroleum service providers throughout the country.

As part of its mandate, the Economic Regulation & Planning Directorate also conducts studies relating to the economy, efficiency and effectiveness of the petroleum downstream industry. It collects and compiles data on demand, supply and inventory of petroleum products which serves as a guide to publish statistical reports on the industry.

Through the activities above, the Economic Regulation & Planning Directorate seeks to ensure that the NPA protects the interest of consumers and petroleum service providers, promotes fair competition amongst petroleum service providers and thereby enhancing the efficiency and profitability of the industry.