Femi Falana, a prominent human rights activist and Senior Advocate of Nigeria, has declared that it is illegal for the Nigerian National Petroleum Corporation Limited (NNPCL) to fix the price of petrol produced by Dangote Refinery.
He argues that this practice violates Section 205 of the Petroleum Industry Act (PIA), which mandates that petroleum prices should be determined by market forces following deregulation. Falana criticized the NNPCL for setting a price of ₦950 per liter for Dangote petrol, asserting that this undermines competition and contradicts the principles of a deregulated market.
Citations:
[1] https://leadership.ng/falana-faults-nnpc-for-fixing-dangote-petrol-prices/
[2] https://nairametrics.com/2024/09/12/nigerias-petrol-import-bill-hits-n3-2-trillion-highest-on-record-for-a-quarter/
[3] https://www.ssb.no/en/priser-og-prisindekser/produsent-og-engrosprisindekser/statistikk/produsentprisindeksen
[4] https://tradingeconomics.com/norway/producer-prices-change
[5] https://www.apmterminals.com/en/news/news-releases/2024/240619-exports-forum-highlights-opportunities-for-nigerian-non-oil-exports
[6] https://tradingeconomics.com/norway/import-prices
[7] https://www.fox13news.com/news/russian-man-living-sarasota-arrested-illegal-export-military-drone-technology-doj
[8] https://tribuneonlineng.com/apapa-port-records-rise-in-export-volumes-plans-second-exporters-forum/