Library / Midstream and Downstream Petroleum Fees Regulations 2024
Midstream and Downstream Petroleum Fees Regulations 2024

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(3)  The levies in sub-regulations 1 and 2 of this regulation shall, in
accordance with the Act, form part of the wholesale price of petroleum
products and natural gas sold in Nigeria.
(4)  The levy in sub regulation 1 of this regulation shall become due
immediately upon the sale of petroleum products and shall be remitted by the
supplier to the Authority Fund not later than the 21st day following the month
of the sale, or as may be directed by the Authority.
(5)  The levy in sub-regulation 2 of this regulation shall become due
within 21 days of the sale of petroleum products or natural gas and shall be
remitted by the supplier to the Midstream and Downstream Gas Infrastructure
Fund not later than the 21st day following the month of the sale, or as may be
directed by the Authority.
(6)  The supplier shall include particulars of the levy collected from a
wholesale customer in purchase agreements, invoices, receipts and any other
document between a supplier and wholesale customer to evidence the sale of
the petroleum products or natural gas.
(7)  The supplier shall not later than the 30th day of each month, submit
to the Authority a report, comprising —
(a)  the name of the wholesale customer;
(b)  the wholesale price of the petroleum products or natural gas;
(c)  the volume of petroleum products or natural gas sold to the wholesale
customer; and
(d)  a copy of the purchase agreement, invoice, receipt or any other
document between the supplier and wholesale customer evidencing the
sale of petroleum products or natural gas.
(8)  The Authority shall upon confirmation of payment of 0.5% to the
Authority Fund or 0.5% to the Midstream and Downstream Gas Infrastructure
Fund issue a receipt to the supplier who shall in turn provide the wholesale
customer with a copy of the receipt.
(9)  The Authority shall monitor wholesale points for the issuance of
certificates of quantity and quality, and the reconciliation of petroleum products
or natural gas sold in Nigeria.
(10)  Where a supplier of petroleum products or natural gas fails to remit
the levies to the Authority Fund or Midstream and Downstream Gas
Infrastructure Fund as prescribed in these regulations, the supplier shall in
addition to the amount not remitted, be liable to an administrative penalty equal
to 10% of the amount unpaid for each month or part thereof after the date on
which payment became due.