The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has presented a draft of 12 regulations for the midstream and downstream aspects of the petroleum industry.
Speaking at the draft regulations review in Abuja on Monday, the Authority Chief Executive, NMDPRA, Farouk Ahmed, said the Petroleum Industry Act (PIA) 2021 stipulates that stakeholders must contribute to such regulations.
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Ahmed said there were initially 10 drafted regulations, which will be reviewed at the four-day workshop.
He however said two more have been drafted by NMPDRA but awaiting stakeholders’ input, making it 12 regulations so far.
Some of the regulations include petroleum transport and shipment, gas transport tariff, as well as pipeline petroleum.
“Our priority will be to ensure these regulations are primary enablers of the federal government’s Decade of Gas initiative and will help catalyse investment and enhance the attractiveness of the domestic gas value chain,” noted Ahmed.
The Minister of State Petroleum Resources, Timipre Sylva, who decried the poor situation of the petroleum industry, said: “Whilst noting that the current state of our local energy landscape is dire and is in need of ingenious solutions, we have an opportunity to ameliorate the situation through these sets of regulatory instruments.”
Sylva said being the first stakeholder’s consultation by NMDPRA, the regulatory instruments will meet present and future aspirations of the government for more investments in the sector.
Chairman of the Board of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Idaere Ogan, said the new authority has reformed things noting that it’s not like in the past when agencies just churn out regulations without adequate consultations.
Speaking for the Senate Committee on Downstream, Sen. Philip Aduda, said these secondary regulations will complement the PIA in unlocking the potential of the sector.
There are three syndicate groups to review 10 of the draft regulations and present feedback at the end of the review this week.
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