ACEP urges legal action against NPA's amended petroleum pricing guidelines

The Africa Centre for Energy Policy (ACEP) has called on oil marketing companies (OMCs) and Bulk Oil Import, Distribution, and Export Companies (BIDECs) to challenge the National Petroleum Authority (NPA) over its proposed implementation of amended petroleum pricing guidelines.

The revised guidelines, which include a minimum price floor for petroleum products, have sparked opposition from industry stakeholders. ACEP has voiced

Read full articleconcerns over the potential negative impact on competition, product quality, and consumer protection.

In a statement, ACEP emphasised its commitment to advocating for a well-regulated downstream sector and urged affected parties to take legal action against what they perceive as unlawful regulations. ACEP pledged support for any legal challenge against the NPA, emphasising the importance of accountability in the public interest.

"ACEP remains committed to advocating for a well-regulated downstream sector that prioritises competition, product quality, and consumer protection. We urge OMCs and BIDECs, who are committed to improved and cost-effective service delivery, to fight such illegal regulations and proceed to court to avert regulatory sabotage of genuine business efforts. ACEP will support any such challenge and demand accountability from the NPA in the public interest," ACEP inidcated in the statement.

The energy think-tank criticised the NPA's approach, labeling it as a reinforcement of regulatory failure that compromises consumer protection and industry integrity. ACEP highlighted issues such as the proliferation of illicit products, tax revenue losses, and burdensome charges passed on to consumers.

Furthermore, ACEP condemned the NPA's decision as favoring inefficiency and hindering competition, ultimately detrimental to consumer welfare. The organisation urged the NPA to adopt a more targeted regulatory approach focused on addressing unfair practices without stifling business innovation.

ACEP emphasised the importance of fostering a fair market environment that benefits both consumers and businesses in the long term, urging the NPA to prioritise progressive regulatory measures aligned with industry best practices.