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IN THE FEDERAL HIGH COURT OF NIGERIA [N THE ABUJA JUDICIAL DIVISION HOLDEN AT ABUJA ON MONDAY, THE 5™ DAY OF FEBRUARY, 2024

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S. 207 
Where under section 205 (2) of this Act, the Authority regulates the 
tariffs and prices of a licensee, the Authority shall allow the seller to 
recover 
reasonably 
and 
prudently 
incurred 
costs, 
including 
a 
reasonableireturn on the capital invested in the business, 
$208 
Licensees 
shall 
publish 
Prices as required 
by the Authority 
in 
a 
manner that ensures that the customers are able to identify and 
calculate the extent of charges for which they will become liable. 
S. 302 (3) Subject 
to sections 142 (2) and 197 (2) of this Act, 
a: person 
intending to be involved in more than one stream, that is upstream, 
midstream or downstream petroleum operations shall register and 
use a separate company for each stream of petroleum operations 
‘under this Act provided that, for companies with petroleum mining 
leases selected under section 93 (6) ( b) and (7) (b) of this Act, no 
stamp duties and capital gains tax shall be levied by Government 
on such segregation. 
S.317 
(1) 
, 
(9) 
Pursuant to subsection 
(8), 
licence 
to import any product 
shortfalls may be assigned 
to companies with active 
local 
refining licences or proven track records of international crude 
oil and petroleum products trading. 
(10) 
Import volume to be allocated between participants shall be 
basedon criteria to be set by the Authority taking into account 
the respective refining output in the preceding quarter, share 
of active. wholesale customers competitive pricing and prudent 
supply, storage and distribution track 
S. 318 
Interpretation 
JUDGEMENT IN JHS (MIGERIA) LTD. & ANOR, 
V. THE NIG. 
SUIT NO: PAGIABI/CS/1480/2023