Library / MIDSTREAM AND DOWNSTREAM PETROLEUM ANTI-COMPETITION AND CUSTOMER PROTECTION REGULATIONS, 2023

MIDSTREAM AND DOWNSTREAM PETROLEUM ANTI-COMPETITION AND CUSTOMER PROTECTION REGULATIONS, 2023

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c. makes a false declaration to the Authority or wilfully furnishes any 
information so required which is in any respect false or insufficient; 
or 
d. fails to comply with any provisions of these Regulations; 
shall, in addition to the sanctions, fines and penalties contained in the 
Act, be liable to an administrative penalty not exceeding NGN 
1,000,000.00. 
 
(2) Where, in the opinion of the Authority there is or may be anti-competitive 
behaviour and, in particular, an abuse of market power, the Authority shall— 
(a)  issue “cease and desist” orders as may be required, 
 (b) require and compel the disclosure of information from licensees,  
(c) undertake inquiries and investigations, and  
(d) levy a fine which shall not exceed 5% of the annual turnover of the 
company for the preceding year.  
21. The Authority may issue guidelines, directives, and notices for the 
effective implementation of these Regulations. 
Authority to 
issue 
guidelines, 
directives  
22.  In these Regulations — 
 
“Act” means the Petroleum Industry Act, No. 6, 2021; 
 
“Authority” means the Nigerian Midstream and Downstream 
Petroleum Regulatory Authority; 
 
“ 
 
“Customer protection” has the meaning ascribed to it in the Act; 
 
“NGN” means Nigerian Naira. 
 
Interpretatio
n 
 
23. These Regulations may be cited as the Midstream and Downstream 
Petroleum Anti-competition and Customer Protection Regulations, 2023. 
Citation