Nigeria’s two petroleum regulators have pledged closer collaboration to eliminate regulatory uncertainties and attract fresh investment into the oil and gas sector.
The Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have committed to deeper cooperation to strengthen investor confidence across Nigeria’s petroleum industry.
The pledge followed a courtesy visit by the new NMDPRA Authority Chief Executive, Rabiu Abdullahi Umar, to the NUPRC headquarters in Abuja, hosted by Commission Chief Executive Oritsemeyiwa Eyesan.
Both agencies, which derive authority from the Petroleum Industry Act, agreed on the need to present a unified front on issues affecting operators and investors.
Eyesan cited recent stability as proof of effective collaboration, noting “the absence of fuel supply disruptions in recent months, despite considerable global pressure, as evidence that coordinated regulation is already producing results.”
Both regulators also commended the Tinubu administration’s policy reforms for improving conditions across the sector.
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