Section 1: Establishment of Petroleum Products Pricing Regulatory Agency

(1) There is established an agency to be known as the Petroleum Products Pricing Regulatory Agency (in this Act referred to as "the Agency").
(2) The Agency-
(a) Shall be a body corporate with perpetual succession and a common seal; and
(b) may sue and be sued in its corporate name
(3) The Agency shall be located in the Federal Capital Territory, Abuja and shall not be subject to the direction, control or supervision of any other authority in the performance of its functions under this Act other than the President.