The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled six petroleum regulations just as 14 other drafts are nearly ready for launch.
This is coming nearly 18 months after the Petroleum Industry Act (PIA) 2021 created the Authority, enabling it to create new laws for retail outlets among others.
Speaking at the unveiling ceremony on Wednesday in Abuja, the Authority Chief Executive, Farouk Ahmed, said while the six were unveiled today, there are 20 of such regulations, noting that they are to enable regulatory certainty and clarity in the industry.
“Our regulations have been designed to enable businesses through regulatory clarity, certainty, fairness, transparency and best industry standards. In addition to the regulations being launched, 14 other regulations have been developed and shall be issued shortly,” said Ahmed.
The Authority Secretary and Legal Adviser, NMDPRA, Dr Joseph Tolorunse, said the six regulations are the midstream and downstream petroleum operations, natural gas pipeline tariff, gas pricing and domestic demand, assignment or transfer of licence, petroleum transportation and shipment while the sixth is petroleum measurement regulation.
Shortly after unveiling the regulations, Chairman of the NMDPRA board, Amb. Idare Ogan, noted that the regulations are expected to meet the demands of the midstream and downstream petroleum industry.
NMDPRA also launched the Midstream and Downstream Oil and Gas Industry Service Permit, which ensures that all service providers, including artisans, are licensed. Although it has been in operation since January, the Authority said it formally begins on 31st March 2023 with three working days for processing applications.
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