The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is working to ensure issuance of midstream and downstream petroleum regulations for the growth of the industry.
This was disclosed by Mr Ogbugo Ukoha, the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, in Abuja on Thursday at the end of its stakeholders’ consultation forum on regulations.
The forum which opened on August 1, was attended by stakeholders from Chevron, TotalEnergies, Major Oil Marketers Association of Nigeria, among others, to bequeath the industry with laws and policies to enable investment in the sector, News Agency of Nigeria reported.
The 10 regulations considered by the stakeholders were; Gas Pricing, Domestic Demand and Delivery Regulations; Natural Gas Pipeline Tariff Regulations and Midstream and Downstream Decommissioning and Abandonment Regulations.
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The regulations included Environmental Regulations For Midstream And Downstream Petroleum Operations In Nigeria; Midstream and Downstream Environmental Remediation Fund Regulations and Midstream and Downstream Gas Infrastructure Fund Regulations.
Other regulations are Petroleum (Transportation And Shipment) Regulations; Assignment and Transfer of Licences and Permits Regulations; Petroleum Pipeline Regulations and Midstream and Downstream Petroleum Operations Regulations.
Ukoha said the Petroleum Industry Act (PIA 2021) captured this process and required that it has to publish the regulations and after 21 days invite the stakeholders to listen and make considerations.
“So, we released 10 draft regulations across board and two more draft regulations but the consultation we were just concluding was for the 10 regulations.
“We got rich and intensed feedback from stakeholders; what is left for us to do now is to go back and reflect on it and utilise the good part ultimately for the benefit of Nigerians and growth of the industry.
“The reviewed regulations will be forwarded to the ministry of justice after for gazetting,” he said.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
