Nigerian Petroleum Company, NNPCL Lacks Power To Fix Fuel Prices; It Is Illegal, Contemptuous – Falana | Sahara Reporters

Nigerian Petroleum Company, NNPCL Lacks Power To Fix Fuel Prices; It Is Illegal, Contemptuous – FalanaHuman rights lawyer, Femi Falana , has berated the Nigerian National Petroleum Company Limited for fixing and determining fuel pump prices in Nigeria, saying the company lacks the power to fix fuel pump price, hence, the company’s adjustment of fuel pump price from about N500 to N617 is illegal.

He stressed that the Nigerian government was dissatisfied with the judgment and filed an appeal at the Court of Appeal, saying that “Even though the appeal has not been determined the Nigerian National Petroleum Corporation Limited has usurped the power of the Federal Government to determine and fix the prices of petroleum products in the country.

“The people of Nigeria were taken aback yesterday when the Nigeria National Petroleum Corporation Limited increased the pump price of petrol from N500 to N617. After increasing the price the NNPCL turned round to claim that it was fixed by market forces. It is submitted that the increase of the pump price of petrol by the NNPCL is is an affront to the rule of law on the ground that it is illegal in every material particular.

The statement further stated specifically, the reliefs granted by Federal High Court include the following: “3 A DECLARATION that the policy decision of the Defendants to deregulate the downstream sector of the petroleum industry by not fixing the prices at which petroleum products may be sold in Nigeria is unlawful, illegal, null, void and of no effect whatsoever being in conflict with Section 16 of the Constitution of the Federal Republic of Nigeria, 1999 which provides that the Government shall control the national economy in such manner as to secure the maximum welfare, freedom and happiness of...

According to him, “Dissatisfied with the judgment of the Federal High Court the Federal Government filed an appeal at the Court of Appeal. Even though the appeal has not been determined the Nigerian National Petroleum Corporation Limited has usurped the power of the Federal Government to determine and fix the prices of petroleum products in the country.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BREAKING: Nigerian Petroleum Company, NNPCL Increases Fuel Price To N617 Per Litre | Sahara ReportersThe price of Premium Motor Spirit popularly known as fuel has risen to about N617 per litre as the controversy and the hard effects of subsidy removal by the Nigerian government continue to hit Nigerians. A visit to a Nigerian National Petroleum Company Limited (NNPCL) mega filling station in the Central area of Abuja on Tuesday confirmed that the fuel price had been adjusted from N539 to N617 per litre.
Source: SaharaReporters - 🏆 9. / 63 Read more »

Rising Petrol Prices Are Result Of Allowing Market To Regulate Itself–Nigerian National Petroleum Company | Sahara ReportersThe Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the recent rise in petrol pump prices in Nigeria is caused by market forces. It was earlier reported that NNPCL mega-filling stations in Abuja had adjusted the price of petrol from N539 to N617 per litre.
Source: SaharaReporters - 🏆 9. / 63 Read more »