The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), earlier in August, held a 4-day consultation with critical stakeholders on its proposed 12 regulations for midstream and downstream operations in Abuja.
The regulations are Petroleum (Transportation and Shipment) Regulations, Assignment and Transfer of Licence and Permit Regulations, Midstream and Downstream Petroleum (Operations) Regulations, Petroleum Pipeline Regulations, Gas Pricing Domestic Demand and Delivery Regulations, Natural Gas Pipeline Tariff Regulations, Midstream and Downstream Decommissioning and Abandonment Regulations.
Others are Environmental Regulations for Midstream and Downstream Operations, Midstream and Downstream Gas Infrastructure Fund Regulations, Environmental Remediation Funds Regulations, Midstream and Downstream Petroleum (Safety) Regulations, and Petroleum Measurement Regulations.
“We are now at the point of engagement and interaction with a view to issuing regulations that would benefit all stakeholders,” said the Minister of State for Petroleum Resources, Chief Timipre Sylva, at the event.
He noted that the proposed midstream and downstream regulations by the NMPRA will provide clarity for the operators and attract investments, adding that the review was in fulfilment of the provisions of Sections 33 and 216 of the Petroleum Industry Act (PIA) 2021.
“We are gathered here today in fulfilment of the provision of sections 33 and 216 of the PIA 2021 which mandate the authority to consult with relevant stakeholders prior to finalizing and making any resolution concerning the process of refining, transmission, distribution, supply, sell and storage of petroleum products or any other matters by the authority as related to the activity of mid and downstream petroleum operations,” he said.
“This administration understands the need to have an all-encompassing, well thought out and unambiguous regulatory instrument that is painstakingly developed to meet present and future aspirations of the government.
“This is required to attract much-needed investments and create opportunities in the sector. Hence the need for stakeholders’ participation and engagement in developing the regulations, processes and procedures.”
Also speaking at the event, the Authority Chief Executive, Farouk Ahmed, said the priority of the NMDPRA will be to ensure these regulations are primary enablers of the Federal Government’s Decade of Gas initiative, to help catalyse investment and enhance the attractiveness of the domestic gas value chain.
“We are also conscious of the fact that effective regulations must, amongst many outcomes, ensure fairness, equity, transparency, and certainty for all players in the regulatory space,” Ahmed said.
“It is, therefore, necessary that we give undivided attention to this process, as the success and quality of our deliberations would significantly determine how our Industry evolves in the near future. Our collective actions have a direct impact in unlocking the main energy provision sector of the Nigerian economy.”
The event was attended by Idaere Gogo Ogan, Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, Group Chief Executive Officer, NNPC Limited, Mele Kyari, Executive Secretary, PTDF, Dr Bello Aliyu Gusau, Senator Philip Aduda, Vice Chairman, Senate Committee on Petroleum (Downstream) and top industry operators.