₦airaland Forum

The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has unveiled new regulations to simplify the process of obtaining petrol import licences and other operational regulations in the industry into a single document.

It stated that previous regulations, administered by the defunct Department of Petroleum Resources concerning midstream and downstream operations, have been revoked.

The proposed 2024 Midstream and Downstream Petroleum Operations Regulations will enable the Authority to reduce the complexities of navigating and implementing numerous regulations in the petroleum industry.

The Managing Director of the NMDPRA, Farouk Ahmed, speaking at a stakeholder engagement on the proposed operations regulations on Tuesday in Abuja, said the event was in accordance with Section 216 of the Petroleum Industry Act, which mandates consultation with stakeholders prior to the finalisation of regulations under the Act.

Ahmed, represented by the Director of Distribution System Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, stated that the proposed regulations would consolidate 12 of the Authority’s earlier gazetted or published regulations.

He said, “The consolidation process has enabled us to address inconsistencies in the regulatory space; to foster further compliance with the PIA and the regulations made previously, and it also demonstrates our commitment to promoting ease of doing business in Nigeria.

Ukoha added that the regulations would be read alongside other regulations made by the Authority, including the Midstream and Downstream Petroleum Fees Regulations, which provide for the prescribed fees for midstream and downstream petroleum activities.

“Once today’s work is completed, we will sit down with the Federal Ministry of Justice, who will review it, cross the ‘Ts’ and dot the ‘Is’, and then the appropriate government office responsible for gazetting regulations will publish it.”

It is expected that the Midstream and Downstream Petroleum Fees Regulations, following a successful stakeholder consultation and the approval of the Honourable Ministers of State for Petroleum Resources, will soon be published in the Federal Government Gazette.

The Authority’s Legal Adviser, Dr Joseph Tolorunse, providing an overview of the 2024 midstream and downstream operations regulations, said the objective of the regulation was to consolidate all 16 drafted regulations and streamline them for ease of reference.

He said, “We discovered that having numerous regulations would be burdensome for the industry to follow, but when we consolidate the regulations addressing the midstream and downstream value chains, it will be easier for people to understand and refer to them.”

“The operations regulations govern companies in the midstream and downstream industries, covering activities related to the transportation, loading, and shipment of natural gas, as well as the issuance of licences, making them accessible to the public.”

He added that the regulations also outline fines and penalties for breaches of the regulations.

“The regulation is structured to capture some of the existing regulations and harmonise them. It includes the midstream and downstream code of conduct regulations, as well as regulations concerning licences, permits, and authorisations, and various aspects of the PIA,” he stated.

Insider1989:
Still taking about importing fuel?

Shadomaan7:
Good. We are expecting more improvements in the downstream sector

Shadomaan7:
Good. We are expecting more improvements in the downstream sector

ogododo:
Nlfpmod nawa oo.Wwtin FG dey hide. We go dey import fuel again be dis.

Shadomaan7:
Good. We are expecting more improvements in the downstream sector

tundegan:
This is a welcomed development.

It shows the commitment of the government towards easing the process for stakeholders in the industry.

Insider1989:
Still taking about importing fuel?

tundegan:
This is a welcomed development.

It shows the commitment of the government towards easing the process for stakeholders in the industry.

Angelfrost:
Why not?!! That's part of deregulation of that sector.

As long as there is no subsidy, let business people decide which petrol is more profitable for them (imported or locally refined).

Eventually, the competition will drive the price down while massively improving supply and distribution.

Appletek:
They are all mad.
Imported fuel will eventually be cheaper than Dangote fuel.

ogododo:
https://punchng.com/fg-unveils-new-regulations-for-petrol-import-licences-revokes-dpr-guidelines/