Library / THE AUTHORITY CHIEF EXECUTIVE, NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA); FAROUK AHMED SPEECH DURING THE VISIT OF NARTO TO THE AUTHORITY ON, WEDNESDAY 9 TH MARCH 2022 A
THE AUTHORITY CHIEF EXECUTIVE, NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA); FAROUK AHMED SPEECH DURING THE VISIT OF NARTO TO THE AUTHORITY ON, WEDNESDAY 9 TH MARCH 2022 A
Page 1 of 1
THE AUTHORITY CHIEF EXECUTIVE, NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA); FAROUK AHMED SPEECH DURING THE VISIT OF NARTO TO THE AUTHORITY ON, WEDNESDAY 9 TH MARCH 2022 AT THE NMDPRA HQ, ABUJA PROTOCOL I am delighted to be here as a Special Guest at the opening ceremony of the 2022 Annual General Meeting and the NEC/State Chairmen Joint Meeting of National Association of Road Transport Owners (NARTO) to discuss government policy and how it affects your Association as well as proffer solutions to lingering challenges being faced by NARTO in the sector. The 2022 AGM is strategically planned and happening at this crucial time in the transition period as this will further project the role of NARTO in the industry. Let me start with a little background information about the PIA and the new dispensation. The Petroleum Industry Bill (PIB) was passed into law and the Petroleum Industry Act was accented to by His Excellency, President Muhammadu Buhari on – August 2021. Prior to this period the oil and gas industry was faced with various challenges and system bottlenecks which affected operations in the sector. The PIA is expected to address the challenges that bedeviled the Sector, top on the list are lack of viable investment and the issue of dual regulators with its attendant effects on activities which includes investment. It is imperative to state that the PIA which birthed the Authority is one of the key achievements of the President Muhammadu Buhari’s administration. And we are committed to make it work. The amalgamation of the legacy Agencies came with its own share of unique challenges which with your usual cooperation and support, are surmountable. The Authority is barely 6 months old but has had to deal with pressing issues it inherited from the defuncted government Agencies which is affecting operations and stakeholders. And you are one of the beneficiaries You will agree with me, that the herculean task ahead of us is enormous and requires absolute dedication, perseverance and innovation. As the technical and commercial regulator of the midstream and downstream, we are committed to building a vibrant, viable, competitive and investment driven industry in spite of existing obstacles. It would not be out of place to state the obvious that r oad transport business contributes to the efficient, effective and competitiveness of the whole distribution system. It provides the formative power of economic growth. NARTO a s a very strategic Stakeholder in the industry, it contributes immensely to the economy of the Nation as it accounts for a large percentage of revenue to government. The Authority has watched with keen interest your participation in ensuring uninterrupted products supply despite challenges being faced by you and your members. I am particularly impressed with the level of patience and understanding that you have demonstrated thus far as well as your proactive move at partnering with the biggest indigenous refinery. Since inception of the Authority, we have been work ing to guarantee seamless operations and unlock the rich potentials of the oil and gas industry for the socioeconomic growth and development of our nation . T o achieve this, we have been engaging stakeholders on all fronts and this will continue until we achieve our collective goals. As I draw the curtain , I urge each and every one as individuals and organisations to put all hands-on deck, remain focused to take our Industry and Nation to the desired height. We count on you to make the dream a reality . God bless NMDPRA God bless NARTO God bless our nation, Nigeria.
RegulationsDOCX20222022-031