SaharaReporters had reported that the NNPCL recently adjusted the fuel pump price across its mega filling stations across the 36 states of the federation and the Federal Capital Territory, Abuja, following Tinubu’s announcement of fuel subsidy on his inaugural day.
Nigerian human rights lawyer, Femi Falana, SAN, has said that only President Bola Tinubu has the power to fix the national pump price of fuel and not the Nigeria National Petroleum Company Limited (NNPCL).
SaharaReporters had reported that the NNPCL recently adjusted the fuel pump price across its mega filling stations across the 36 states of the federation and the Federal Capital Territory, Abuja, following Tinubu’s announcement of fuel subsidy on his inaugural day.
The NNPCL said the adjustment of the price was in line with market realities in the country.
However, reacting to the development on Friday, Falana decried the NNPCL’s move, saying that only the Nigerian government had the power to fix the prices of the product.
He argued that since the current government was yet to appoint a Minister of Petroleum, such responsibility now rested with Tinubu.
“The NNPC has metamorphosed into a limited liability company. It is now NNPC Limited. To that extent, NNPC like Total, Exxon Mobil, and Shell operating in the oil industry, cannot announce an increase in the prices of petroleum products. That duty is vested in the government and that is what I mean (saying their action is illegal),” he said on Channels TV programme, citing a Federal High Court, Abuja judgment that says only the government can fix the prices of petroleum products.
“So, you ask the NNPCL: ‘Where have you got the powers to fix the prices of petroleum products, or the price of petrol, this time around, from N185 thereabouts to N540?’ So, how? The clarification is important.”
The human rights lawyer said that the argument that the new prices were dictated by market forces was flawed.
He said, “No, the visible market forces cannot under the Nigerian Constitution and under the PIA fix the prices of petroleum.
“Under the current situation, we have found ourselves – since ministers have not been appointed and the President is running the country – only the president (Tinubu) can so decide for now because you have the Price Control Act. You have the PIA.
“There is no provision in our law for market forces to determine the prices of any product in the country.”