Library / Midstream and Downstream Environmental Remediation Fund Regulations 2023
Midstream and Downstream Environmental Remediation Fund Regulations 2023

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B 847
S. I. No. 36 of 2023
Commence-
ment
PETROLEUM INDUSTRY ACT, NO. 6, 2021
MIDSTREAM AND DOWNSTREAM ENVIRONMENTAL
REMEDIATION FUND REGULATIONS, 2023
[10th Day of May, 2023]
In exercise of the powers conferred on it by section 33 (y) of the Petroleum Industry
Act, No. 6, 2021 (“Act”) and all other powers enabling it in that behalf, the Nigerian
Midstream and Downstream Petroleum Regulatory Authority (“Authority”) makes
these Regulations —
PART I — OBJECTIVES AND APPLICATION
1. The objectives of these Regulations are to —
(a)  set out the general rules for the establishment and financial
contribution of the Midstream and Downstream Environmental Remediation
Fund for midstream and downstream petroleum operations ;
(b) ensure the rehabilitation or management of negative environmental
impacts arising from midstream and downstream petroleum operations ;
(c)  determine the amount of financial contribution based on the size of
the petroleum operations and the level of the environmental risk that may
exist ; and
(d)  provide fines, sanctions and administrative penalties for failure to
comply with these Regulations.
2.  These Regulations shall apply —
(a)  to the establishment and administration of the Fund ; and
(b) where a licensee fails to rehabilitate, manage or is unable to undertake
the rehabilitation or management of any impact on the environment arising
from its operations.
PART II — ESTABLISHMENT OF THE ENVIRONMENTAL REMEDIATION FUND
3.—(1) There is established, the Midstream and Downstream
Environmental Remediation Fund (“Fund”) which shall be for the rehabilitation
or management of negative environmental impacts with respect to licensed
midstream and downstream petroleum operations.
(2)  The Authority shall administer and manage the Fund in accordance
with these Regulations and other applicable laws.
(3) The Authority shall within six months from the effective date of
these Regulations establish an interest yielding account to be known as the
Midstream and Downstream Environmental Remediation Fund Account
(“Account”).
Objectives
Application
Establishment
of the
Environmental
Remediation
Fund