Overview

The Nigeria Petroleum Act 1969 is a foundational legislation that vests the ownership and control of all petroleum resources in the Federal Government of Nigeria. It establishes the legal framework for oil exploration, prospecting, mining, refining, and distribution of petroleum products. The Act requires licenses for various activities: oil exploration licenses, oil prospecting licenses, and oil mining leases (Section 2), which can only be granted to companies incorporated in Nigeria. Refinery construction and operation require a license from the Minister (Section 3). Importation, storage, sale, or distribution of petroleum products also require a license, with exemptions for up to 500 liters of kerosene and other categories exempted by the Minister (Section 4). The Act includes provisions for price control (Section 6), rights of pre-emption (Section 7), powers and duties of public officers (Section 8), and regulations (Section 9). It also covers offenses, penalties, delegation of powers, dispute resolution by arbitration, and transitional and savings provisions. The Act came into effect on 27th November 1969 and is divided into 16 sections and four schedules detailing licenses, rights of pre-emption, repeals, and transitional arrangements.

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