NMDPRA to issue 4 fresh regulations for oil, gas sector

The Nigeria Midstream Downstream Petroleum Regulatory Authority (NMDPA) will in the coming weeks release four more regulations for the midstream and downstream sectors of the oil and gas industry. The authority’s secretary and legal adviser, Dr Joseph Tolorunshe, said this during the NMDPRA General Counsel and Legal Advisers’ Forum held yesterday in Abuja. He said […]

The Nigeria Midstream Downstream Petroleum Regulatory Authority (NMDPA) will in the coming weeks release four more regulations for the midstream and downstream sectors of the oil and gas industry.

The authority’s secretary and legal adviser, Dr Joseph Tolorunshe, said this during the NMDPRA General Counsel and Legal Advisers’ Forum held yesterday in Abuja.

He said the forum is to discuss issues pertaining to deepening industry legal practitioners’ understanding of the authority’s powers, functions, and regulations; provide clarity on perceived regulatory overlaps between the authority and commission; promote the business enabling and investment opportunities derivable from the licences, permits and authorisations issued by the authority; and address legal concerns arising from the implementation of the PIA and the authority’s regulations.

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He said following the passage of the Petroleum Industry Act 2021, about 12 regulations have been gazetted and eight more are about to be gazetted.

The authority’s chief executive, Farouk Ahmed who was represented by the Executive Director, Distribution Systems, Storage & Retailing Infrastructure, Ogbugo Ukoha, said the authority is aware that stakeholders and potential investors require regulatory clarity to drive investment decisions and guide operations to ensure compliance with legal provisions and prevent reputational damage.