The President, Major Muhammadu Buhari (retd.), has directed the Nigerian Upstream Petroleum Regulatory Commission to take over the supervision of all crude oil export terminals in the country.
According to The Cable, the presidential directive is contained in a letter, dated May 3, with reference number SH/COS/24/A/78, sent to Gbenga Komolafe, chief executive officer of NUPRC, and Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Last month, stakeholders in the oil sector had expressed worries about overlap of regulatory activities between the NUPRC and the NMDPRA, seeking alignment.
However, in the official communiqué, Buhari instructed that the exercise of any regulatory role by the NUPRC and NMDPRA “on any existing crude oil export terminal established prior to the effective date of the PIA should cease immediately”.
He also directed immediate compliance with the resolution of the senate that “NUPRC is the sole an (sic) only regulatory entity to regulate and monitor the activities of all existing crude oil export terminals in Nigeria subsists in compliance with section 7ee of the PIA (2021)”.
Buhari also asked the “honourable minister of state for petroleum resources to ensure immediate compliance and report back within “14 days that the resolution as stipulated in (a) above are being adhered to by the NUPRC, NMDPRA, NNPCL, FMITI, industry players and relevant MDAS”.