Senate Rejects NMDPRA’s Petrol Import Records, Summons Agency Heads
By Anayo Akwitti The Senate Committee on Public Accounts has rejected the petroleum importation records presented by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for 2022 and 2023 over wide discrepancies with figures supplied by the Nigerian National Petroleum Company Limited (NNPCL). The committee consequently resolved to summon the heads of NMDPRA, NNPCL […]
NMDPRA Threatens Petrol Stations Over Under-Dispensing
By Mardiyyah Abubakar The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has warned petrol station operators against under-dispensing products, threatening to revoke the licences of persistent or serious offenders. The regulator issued the warning in a circular on Tuesday in Abuja, saying it had identified cases of under-dispensing at retail outlets across the country. […]
Court Extends Order Restraining NMDPRA From Dangote Refinery
By Julian Osamoto The Federal High Court in Lagos, has extended an interim order restraining the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), from interfering with operations at the Dangote Petroleum Refinery. Justice Akintayo Aluko extended the order on Wednesday, after NMDPRA and Dangote clashed over the regulator’s directive suspending propane loading and truck-out […]
Reps Probe ₦432bn NMDPRA Debt, Summon Oil Firms
By Oluwakemi Kindness The House of Representatives has launched an investigation into ₦432.07 billion in outstanding obligations owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by oil companies and other entities. The probe is being conducted by the House Public Accounts Committee (PAC), following concerns raised in the Auditor-General’s annual reports over […]
NMDPRA Unveils Rules to End Fuel Price Fixing
By Mardiyyah Abubakar The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled draft regulations aimed at ending fuel price fixing, artificial scarcity and other anti-competitive practices in Nigeria’s petroleum sector. The proposed rules would prohibit petroleum companies from coordinating pump prices, restricting fuel supply, sharing markets, rigging bids or exchanging commercially sensitive information […]
Bille Gas Leak: 9 Months On, Crisis Still Unresolved
By Oluwakemi Kindness Nine months after a gas leak was reported in Bille Community, Degema Local Government Area of Rivers State, the incident remains active, with authorities yet to determine its exact source. The National Oil Spill Detection and Response Agency (NOSDRA) disclosed this on Thursday during an interactive session with the House of Representatives […]
Oil Stakeholders Oppose Proposed 3% South-South Levy
By Oluwakemi Kindness Oil industry regulators and operators have opposed a proposal requiring oil and gas producing companies in the South-South to contribute three per cent of their total annual budgets to the South-South Development Commission (SSDC). Thet warn that the levy could increase production costs, discourage investment and duplicate existing statutory obligations. The stakeholders […]
Senate Warns Revenue Agencies Over Breach of Remittance Laws
By Anayo Akwitti The Senate on Wednesday threatened to invoke its constitutional powers against more than 30 federal revenue-generating agencies and government-owned enterprises over alleged violations of statutory revenue remittance laws and refusal to honour invitations to appear before its Committee on Finance. The warning followed a point of order raised during plenary by the […]
IPMAN Warns Against Petrol Price Controls, Threatens Shutdown
By Chinedu Echianu Fuel marketers under the umbrella of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened to shut down filling stations nationwide if the Federal Government attempts to impose price controls on petrol in the deregulated downstream sector. The warning comes amid renewed concerns by the Federal Government and consumer protection authorities […]
Tinubu Seeks Senate Nod for Tegbe, Umar, Enikanolaiye
By Arinzechi Chukwunonso President Bola Ahmed Tinubu has formally requested Senate confirmation for the nomination of Joseph Olasunkanmi Tegbe as Minister of the Federal Republic, alongside Rabiu Abdullahi Umar as Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The request, conveyed in a letter read during plenary by Senate President […]