Reps c’ttee seeks legislative intervention in NMDPRA–Dangote dispute

The Home of Representatives Committee on Petroleum Assets (Midstream) on Tuesday known as for pressing legislative intervention within the dispute between the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Dangote Refinery, warning {that a} extended standoff might set off an power disaster able to crippling the economic system.

The disagreement centres on regulatory approvals and operational compliance points involving petroleum product pricing and distribution.

The Committee made the decision at a workshop held in Abuja with the theme, “Midstream sector overview and strategic future chart for seamless processing.”

In his opening deal with, the Chairman of the Committee, Odianosen Okojie, underscored the strategic significance of the midstream sub-sector to Nigeria’s oil and gasoline worth chain, noting that environment friendly processing, transportation and storage infrastructure are essential to reaching power safety, industrial progress and financial diversification.

He reaffirmed the Committee’s dedication to sturdy legislative oversight, coverage assist and stakeholder engagement, “aimed toward eradicating operational bottlenecks and unlocking funding within the sector.”

Based on him, the workshop was intentionally designed to generate sensible insights that will information legislative actions and long-term structural reforms within the petroleum midstream house.

He stated, “There’s an pressing want for legislative intervention within the ongoing dispute between the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Dangote Refinery.

“The disagreement poses severe implications for sector stability, investor confidence, and Nigeria’s power safety. That is so as a result of unresolved regulatory conflicts might undermine efforts to reposition the petroleum trade for progress.”

Okojie known as on Committee members to play a mediatory and oversight position to make sure regulatory readability, equity and a sustainable decision that aligns with the nationwide curiosity.

The workshop featured a technical session led by trade specialists, who supplied an outline of the midstream sector, highlighted rising challenges and outlined strategic choices for reaching seamless processing.

Contributors engaged in interactive discussions, providing sensible views on regulatory gaps, infrastructure deficits, gasoline utilisation methods and methods to reinforce personal sector participation.

The convention concluded with expressions of optimism from stakeholders, who recommended the Committee for making a platform for constructive engagement.

Additionally they expressed confidence that the outcomes of the workshop, significantly the Committee’s proactive stance on resolving sectoral disputes, would translate into stronger insurance policies and decisive legislative actions.

Stakeholders agreed that such measures are important to enhancing effectivity, attracting funding and repositioning the petroleum midstream sector as a key driver of Nigeria’s financial progress.

The dispute has performed out publicly in current months following allegations by the President of the Dangote Group, Aliko Dangote, that officers of the NMDPRA have been irritating the operations of his $20 billion Lekki-based refinery via what he described as regulatory inconsistencies and unfair practices.

Dangote had accused the Authority’s Managing Director, Farouk Ahmed, of corruption, alleging that regulatory actions taken in opposition to the refinery have been influenced by vested pursuits and makes an attempt to guard gasoline importation companies on the expense of native refining.

The NMDPRA has denied the allegations, insisting that its choices have been guided strictly by the provisions of the Petroleum Trade Act and present high quality and security requirements.

The Authority maintained that it might not compromise regulatory necessities and that its actions have been aimed toward defending customers and making certain product integrity.

The face-off has heightened considerations throughout the sector, prompting requires legislative mediation to forestall regulatory uncertainty from undermining funding and power safety.