NMDPRA unveils plans to boost transparency in petroleum sector
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has mapped out a total regulatory framework targeted at The post NMDPRA unveils plans to boost transparency in petroleum sector appeared first on…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled proposed regulations aimed at making Nigeria’s petroleum sector more transparent and competitive. The framework is designed to address monopoly, abuse of market dominance, collusion and other anti-competitive practices, while ensuring fair and non-discriminatory access to critical infrastructure such as pipelines, terminals and storage facilities.
The proposed rules cover 138 regulations across 23 parts of the midstream and downstream petroleum industry. They would also improve transparency around prices, tariffs, infrastructure capacity and market information, while addressing issues such as mergers, changes in ownership, vertical integration and emerging concerns involving digital markets, data and artificial intelligence. NMDPRA says the framework is intended to provide greater certainty for investors and improve market efficiency.
The proposals are being subjected to consultation with industry operators and other stakeholders before they are finalised. The initiative comes as Nigeria continues to operate a deregulated petroleum market, where prices are generally determined by market forces, while regulators retain powers to tackle price-fixing, market manipulation and abuse of dominance.