The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said it is working to ensure speedy issuance of midstream and downstream petroleum regulations for industry’s growth.
Ogbugo Ukoha, the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, stated this on Thursday in Abuja at the end of its stakeholders’ consultation forum on regulations.
The authority said that when the regulations were finally published, they would be required to be gazetted by the Ministry of Justice.
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.
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.
Others 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 first traditional requirement of the authority as a regulator was to engage with stakeholders to propose draft regulations to people, consult and review their feedback before issuing the regulations.
According to him, 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.
Ukoha said the regulations which were published online firstly got hundreds of rich written responses from stakeholders while the three syndicates group established at the forum made considerations and challenges clarified.
The director explained that the authority was mindful of the timeline set by the PIA itself.
The forum which opened on August 1, was attended by stakeholders from Chevron, TotalEnergies and Major Oil Marketers Association of Nigeria to bequeath the industry with laws and policies to enable investment in the sector.