The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said it will work closely with the Independent Petroleum Producers Group (IPPG) towards the smooth implementation of the Petroleum Industry Act (PIA) and the growth of the country’s midstream and downstream sector.
Farouk Ahmed, chief executive of NMDPRA, disclosed this, saying the industry was at a critical phase, with the ongoing reforms.
He stressed the need for a deeper and progressive level of collaboration between NMDPRA and 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 said in his opening remarks during a courtesy visit to the NMDPRA office in Abuja by a delegation of the IPPG.
The IPPG delegation led by Abdulrazaq Isa, its chairman, thanked the NMDPRA boss for hosting them and pledged the group’s support towards the Authority’s mandate of realising the growing and developing of the midstream and downstream sector of the Nigerian oil and gas industry.
The IPPG chairman’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 as a transition fuel with deliberate policies formulated to attract investment into the sector,’’ Isa said.
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According to him, it is 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.
On the PIA enactment, Isa said the Act would set a solid growth foundation for the entire industry, adding that it is imperative that effective regulations are formulated to derive the full benefits of the Act.
“Industry-wide consultation in the enactment of regulations is required to promote inclusivity and ensure robustness of regulations and IPPG looks forward to collaborating with the NMDPRA in this regard,’’ he said.
The NMDPRA assured IPPG of the agency’s readiness to support their 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 include 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.
