FG plans to Introduce 13 New Petroleum Sector Regulations

By Adaobi Rhema Oguejiofor

The Federal Government has said that it plans to introduce 13 new regulations in the upstream sector of the oil and gas industry in Nigeria.

The Chief Executive Officer (CEO) of the Nigerian Upstream Petroleum Regulatory  Commission, (NUPRC), Gbenga Komolafe, revealed this at the ongoing Nigerian International Energy Summit (NIES) in Abuja on Tuesday.

According the Komolafe, the new regulations will be an addition to the six regulations that had already been introduced by the Commission a few weeks back.

The NUPRC Boss, despite not listing what the new regulations are, said that the regulations  were aimed at ensuring that the oil and gas industry was not suppressed.

In his own words, “I beg to correct the notion that the Commission is running the upstream sector with regulations that are not participatory, apart from the six regulations introduced some weeks ago, some fresh regulations will also be introduced in about two weeks’ time.”

He added that the regulations have carried everyone along in order to ensure that the sector is not suppressed, adding that the Commission will also ensure that it’s regulations conform with the government’s energy transition plan.