A Nigerian lawyer and human rights activist, Femi Falana (SAN), has knocked the selections of Nigeria Nationwide Petroleum Firm to repair costs of imported gas and regionally refined gas, that are unlawful, null, and void.
In an announcement on Thursday, Falana mentioned the transfer contravenes the provisions of part 205 of the Petroleum Trade Act.
“The selections of the NNPCL to repair the costs of imported gas and regionally refined gas are unlawful, nullity and void as they contravene the provisions of part 205 of the Petroleum Trade Act which stipulates that the costs of petroleum merchandise shall be decided by market forces,” he mentioned
He added, “On September 5, 2024, the Govt Vice chairman of Downstream NNPC Ltd, Mr. Adedapo Segun, defined that Part 205 of the PIA, which established NNPC Restricted stipulates that petroleum costs are decided by free market forces in Nigeria.
“In response to him, ‘the market has been deregulated, which means that petrol costs are actually decided by market forces quite than by the federal government or NNPC Ltd. Moreover, the alternate fee performs a big function in influencing these costs.
“However opposite to the well-publicized assertion, the NNPCL mounted the worth of gas refined by the Dangote Refinery and Petrochemical Firm Restricted final month. The so-called market forces weren’t allowed to repair the worth.”
He accused the corporate of serial violation of the legislation setting it up.
“Yesterday, the Nigeria Nationwide Petroleum Firm Restricted introduced new pump costs of gas refined by the Dangote Refinery and Petrochemical Firm. As soon as once more, the so-called market forces weren’t allowed to repair the brand new costs of gas.
Recall that PUNCH On-line had reported that the Federal Authorities had said that it might not intervene within the ongoing dispute between the Nigerian Nationwide Petroleum Firm Restricted and Dangote Refinery over the pump costs of Premium Motor Spirit (petrol).
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://punchng.com/