PETROLEUM INDUSTRY ACT, 2021

Section 170: Pricing principles in relation to gas.

2021Section 170 of 320Federal Republic of Nigeria

Subject to the provisions of this Chapter, the Authority shall, in the exercise of its powers to regulate prices charged by licensees, be guided by the following principles
a marketable natural gas prices shall be disaggregated into the component elements of the supply chain including the costs of wholesale gas, tariffs for gas processing, tariffs for transportation pipelines for natural gas, distribution and supply;
b the prices charged for each licenced activity shall reflect the costs incurred in the efficient provision of that activity;
c prices charged shall permit a reasonable return for licensees on their investments; and
d prices shall not discriminate between customers with similar characteristics, such as similar size or a similar consumption profile.

Cite this section

Section 170, PETROLEUM INDUSTRY ACT, 2021 (2021).

https://repo.podus.ai/laws/petroleum-industry-act-2021/section/170/