NMDPRA: PIA Bars Petrol Price Controls Unless Market Failure Is Proven

Reported by ZAlebs · Sun 08:36 · Zee Dladla

Nigeria’s downstream petroleum regulator says it cannot set petrol prices because the Petroleum Industry Act (PIA) 2021 requires fuel prices to be determined by an open market, unless a formally established market failure justifies government intervention. Key takeaways The PIA permits state…

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