Human rights lawyer Femi Falana (SAN) has condemned the Nigerian National Petroleum Company Limited’s (NNPCL) recent decision to set the price of petrol from Dangote Refinery. Falana argues that this move breaches the Petroleum Industry Act (PIA), which mandates that fuel prices should be governed by market forces following deregulation.
Falana criticized the NNPCL for fixing the price at ₦950 per litre, claiming it contradicts the PIA’s stipulation that petroleum prices should be determined by market dynamics. He also questioned the justification for pricing petrol in dollars when transactions should be in naira, as directed by the Federal Executive Council (FEC).
The lawyer has urged the Federal Competition and Consumer Protection Commission (FCCPC) to address what he sees as monopolistic practices by the NNPCL and ensure other marketers have the opportunity to purchase and distribute petrol from the Dangote Refinery.
