BusinessDay

AGF backs midstream, downstream petroleum regulatory authority

The accountant-general of the federation, (AGF) Ahmed idris has pledged the support of the treasury to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to help it succeed in its operations.

Idris said this when he received the management team of the agency, led on a courtesy visit by the executive director (finance and account), Abiodun Adeniji.

The NMDPRA was created in September 2021 after the scrapping of three hitherto oil regulatory agencies – the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA) and Petroleum Equalization Fund (PEF).

The agency is responsible for the technical and commercial regulation of the midstream and downstream operations in Nigeria.

The AGF reaffirmed the readiness of the treasury to extend to the new agency the seamless, mutually beneficial relationship and cooperation it had with the three defunct agencies.

He expressed optimism that such cooperation will help secure the necessary finances for the government and help grow the economy.

Read also: How FG’s gas pricing policy disrupts market, leaves consumers energy-poor

Idris, who made a case for treasury officers to be co-opted as internal auditors in the Agency, pointed out that statutorily, treasury officers serve as internal auditors in all Ministries, Departments and Agencies (MDAs), adding that such should be applicable in the agency.

He congratulated the management team on their appointment and charged them to uphold the ideals of transparency, accountability and zero tolerance for corruption.

In his address, Adeniji said the management of the agency was poised to work assiduously to fulfil its mandate.

While commending the AGF of the federation for providing visionary leadership for the treasury, Adeniji solicited the cooperation of the treasury to help the agency succeed in its operations.

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