Categories: METRONEWS

Falana Claims It’s Unlawful For NNPC To Fix Fuel Prices

Femi Falana, a human rights lawyer, has stated that it is illegal for the Nigeria National Petroleum Company Limited (NNPCL) to control petrol prices.

Falana in a statement on Thursday shared that the petroleum company’s actions violated the terms of the Petroleum Industry Act (PIA).

The human rights lawyer noted that despite the NNPCL’s claims that the market has been deregulated and that forces now determine petrol prices, the company fixed the price of fuel refined by the Dangote Refinery and Petrochemical Company Limited last month, adding that market forces were not permitted to fix the price.

“The Nigeria National Petroleum Company Limited announced new pump prices of fuel refined by the Dangote Refinery and Petrochemical Company. Once again, the so-called market forces were not allowed to fix the new prices of fuel.

Sponsored

“The decisions of the NNPCL to fix the prices of imported fuel and locally refined fuel are illegal, nullity and void as they contravene the provisions of section 205 of the Petroleum Industry Act which stipulates that the prices of petroleum products shall be determined by market forces,” he said.

Recall that Nigerians were shocked again on Wednesday morning when NNPCL retail locations in Lagos and the Federal Capital Territory, FCT, Abuja, altered the pump price of fuel.

SPONSORED
Victor Alade

Recent Posts

Gov. Sanwo-Olu Presents ₦3trn 2025 Budget To Lagos Assembly

Governor Babajide Sanwo-Olu of Lagos has presented the sum of ₦3.005 trillion before the state…

1 hour ago

Abia CP Storms Ohafia, Vows To Smoke Out Gunmen Who Attacked Police Officers

Abia State Commissioner of Police, CP Danladi Isa on Wednesday led an operation along Asaga…

2 hours ago

Abia Man Urges Gov. Otti To Borrow Former Governors’ Models To Tackle Insecurity

Popular Abia-born journalist and online publisher Ifeanyi Okali has called on the state governor, Dr.…

4 hours ago

Akpabio-led Senate Approves Tinubu’s Fresh $2.2bn Loan Request

The Senate, on Thursday, approved the $2.2 billion fresh loan request by President Bola Ahmed…

4 hours ago

Popular Attorney And Activist Shot Dead In Benue

Mike Ofikwu, an activist and lawyer from Otukpo, was brutally killed by unidentified armed men…

6 hours ago

Simon Ekpa Sent To Prison

A Finnish court has sent separatist agitator, Simon Ekpa, to prison for spreading terrorist propaganda…

7 hours ago