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- Lauds NMDPRA mgt
The House of Representatives has said that collaboration between the parliament and regulatory agencies are crucial to effective implementation of the Petroleum Industry Act( PIA) and protection of consumers’ interest.
The chairman, House Committee on Petroleum Resources( Downstream), Ikenga Ugochinyere, said such collaboration would also ensure the promotion of a stable and competitive petroleum market.
The Committee lauded the efforts of the management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), under its Chief Executive Officer ( CEO), Mallam Rabiu Abdullahi Umar, in its ongoing reforms in the downstream sector of the petroleum industry.
The panel expressed confidence in the efforts of the efforts to strengthen regulatory oversight in Nigeria’s midstream and downstream petroleum sector.
According to the statement “the committee acknowledged the need for continued reforms to address prevailing challenges in the sector, improve operational efficiency, attract investment and strengthen public confidence in petroleum regulation.
“While commending the NMDPRA leadership for its engagement with the legislature, the committee reaffirmed its commitment to providing effective legislative oversight to ensure that the authority fulfil its statutory responsibilities in the overall interest of Nigerians.”
It noted that constructive engagement between the legislature and the regulatory authority would enhance accountability, deepen institutional cooperation and support efforts to build a more transparent, efficient and sustainable petroleum industry.
The panel, while calling on relevant stakeholders to sustain their cooperation in advancing reforms that promote national economic growth, protect consumers and improve service delivery across the petroleum value chain, reiterated its readiness to work closely with the NMDPRA and other relevant institutions in the overall interest of the country.
