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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PETROLEUM INDUSTRY ACT, NO. 6, 2021
MIDSTREAM AND DOWNSTREAM PETROLEUM ANTI-COMPETITION AND CUSTOMER
PROTECTION REGULATIONS, 2023
[ ]
Commence
ment
In the exercise of the powers conferred on it by sections 33, 164, 165, 166,
210 and 211 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 —
1. The objectives of these Regulations are to provide —
(a) guidance for holders of licence, permit or authorisation on
regulation of market principles and prevention of anti-
competitive behaviour in the Nigerian midstream and
downstream petroleum industry;
(b) customer protection measures in the Nigerian midstream
and downstream petroleum industry;
(c) the procedure for the determination of complaints from
customers in the Nigerian midstream and downstream
petroleum industry; and
(d) sanctions and penalties for failure to comply with these
Regulations.
Objectives
2. These Regulations shall apply to the prevention of anti-competitive
behaviour and practices, and customer protection in the Nigerian
midstream and downstream petroleum industry.
Application
3. The Authority shall, subject to the provisions of the Federal Competition
and Consumer Protection Act in force, have the responsibility to-
(a) monitor the state of the markets regulated by the Authority;
(b) administer, monitor and ensure compliance with the provisions of the
Act and any law or regulation issued in respect of competition and market
regulation;
(c) monitor market behaviour including the development and maintenance
of competitive markets; and
Authority to
administer,
monitor and
ensure
compliance
with
competition
and market
principles
RegulationsPDF4