THE Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, said the agency would work closely with the Independent Petroleum Producers Group (IPPG) towards the smooth implementation of the Petroleum Industry Act (PIA) and growth of the Nigeria’s midstream and downstream sector.
Ahmed posited that the industry was at a critical phase with the ongoing reforms and it had become imperative for a deeper and progressive level of collaboration between the NMDPRA and the IPPG for the growth of the industry.
‘’IPPG remains a critical industry stakeholder which the NMDPRA is ready to closely work with in addressing challenges impeding industry growth and the development,’’ Ahmed remarked when a delegation of the IPPG visited him in his office in Abuja.
The IPPG delegation, led by its Chairman, Abdulrazaq Isa, thanked the NMDPRA Chief Executive for hosting them and pledged the group’s support towards the Authority’s mandate of realising the growth and development of the midstream and downstream sector of the Nigerian oil and gas industry.
Isa’s presentation focused on the evolving industry landscape, ongoing industry reforms, IPPG’s member participation in gas processing and refinery operations, and the role indigenous exploration and production companies can play in this new era in guaranteeing the nation’s energy security.
“Nigeria cannot afford to be left behind in view of the global energy transition agenda. Natural gas should be considered a transition fuel with deliberate policies formulated to attract investment into the sector,’’ he said.
Isa also noted that it was important for Nigeria to rapidly increase its refining capacity through the right policies and the provision of adequate support to refiners by the government to ensure that the country meets its petroleum products’ demand in the short to medium term.
The IPPG Chairman said the PIA would set a solid growth foundation for the entire industry, adding that it was important to formulate effective regulations to derive its full benefits.
“Industry-wide consultation in the enactment of regulations is required to promote inclusivity and ensure robustness of regulations, and the IPPG looks forward to collaborating with the NMDPRA in this regard,’’ he said.
The NMDPRA assured IPPG of the agency’s readiness to support its growth and development as critical stakeholders in the industry, and also expressed willingness to work closely with the Group, especially as the Authority was in the process of issuing relevant industry regulations to support the implementation of the PIA.
Other IPPG CEO-members on the delegation were Ademola Adeyemi-Bero, FIRST Exploration and Petroleum Development Company; Adegbite Falade, Niger Delta Petroleum Resources; Mustafa Indimi, Oriental Energy Resources; Eberechukwu Oji, ND Western and Emeka Onyeka, Eroton E & P.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.