NMDPRA Commends Increasing Participation Of Nigerian Firms In Oil Exploration
By Stephanie Odiase
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has noted the gradual building of the capacities of Nigerian oil and gas firms to favourably compete with their foreign counterparts, saying it is a welcome development.
Speaking while delivering a goodwill speech at the annual Independent Petroleum Producers Group (IPPG) dinner in Lagos, Ahmed lauded members of the IPPG for staying the course even during challenging times.
The NMDPRA boss, who spoke on, ‘Enhancing production and meeting domestic demands’, said the annual event has been consistent and is symbolic of the professionalism and organization that the IPPG leadership has been demonstrating over the years.
“The group has recorded enviable success in fostering a conducive environment for indigenous producers to establish an ever-growing share in petroleum exploitation in the country. Gradually, indigenous producers can favourably compete with other international oil companies and indeed, the IPPG members are also well positioned now to explore and compete on the global stage,” he said.
He stated that the IPPG under the leadership of Abdulrazak Isah, has been a reliable partner to NMDPRA in its collaborative regulatory activities, pointing out that the NMDPRA has maintained a structured stakeholder engagement mechanism to ensure that its regulatory requirements facilitate growth and innovation in the industry.
Speaking further, Ahmed tasked stakeholders and industry players to take stock of the contribution of the oil and gas sector to the development of the Nigerian economy with a view to bettering its impact. “Let us take time to reflect on the contribution that our industry and our individual companies are making to the Nigerian economy. Let us also strategize for the year 2025, on how to expand our oil and gas production to further provide the molecules necessary to accelerate the development of the country,” he said.
He also urged the group to continue to support local industries by delivering on the domestic crude oil and gas obligations as well as providing more support to the programmes of government such as enhanced production targets, the Decade of Gas, and the Presidential Initiative on CNG.
While pledging the NMDPRA’s support, Ahmed said, “We at NMDPRA wish to reiterate our commitment to provide continuous support to the industry through effective implementation of PIA provisions including business enabling regulations, efficient licensing and permitting processes and, strategic stakeholder engagement. Our doors remain open for constructive feedback and suggestions so that together, we will continue to grow the petroleum sector,” Ahmed told stakeholders at the forum.
The IPPG is an association of indigenous Exploration and Production (E&P) companies with a current membership of 28 companies. Its vision was premised on shared interest and desire to promote the continued development of the Nigerian petroleum industry for the benefit of the nation.
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