Fuel Price: Nigerian govt moves against anti-competitive practices in energy sector

The Federal government has commenced a stakeholder consultation process connected projected regulations aimed astatine preventing anti-competitive practices and behaviour successful the country’s midstream and downstream petroleum sector.

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Rabiu Umar, disclosed this successful a announcement issued on Thursday.

The regulator called connected licensees, licence holders, and different stakeholders to taxable comments connected the projected Midstream and Downstream Petroleum Prevention of Anti-Competitive Practices and Behaviour Regulations.

NMDPRA said the determination is successful compliance with Section 216(1) of the Petroleum Industry Act (PIA) 2021, which mandates stakeholder consultation earlier the finalisation of regulations.

The Authority said stakeholders successful the country’s lipid and state assemblage person 21 days from the day of work of the announcement to taxable comments connected the projected regulations.

“In compliance with Section 216(1) of the Petroleum Industry Act 2021 requiring consultation with stakeholders anterior to the finalisation of Regulations, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NM...