Library / Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024
Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024

Page 66 of 101
 
 
Page | 66 
 
(14) 
Notwithstanding anything herein contained, where the Authority 
considers a confiscated property to be unsuitable for sale or insufficient 
in value to justify a sale, the Authority may dispose of such property in any 
other manner. 
 
(15) 
When items have been disposed through any of the methods 
prescribed by these Regulations, a standard disposal certificate shall be 
prepared accordingly and shall be duly signed by the Authority Chief 
Executive. 
120. All proceeds from the disposal confiscated property referred to in 
Section 125(4)(c) of the Act shall be calculated within 30 days after the 
disposal exercise and the same less expenses, shall be remitted by the 
Authority into the Consolidated Revenue Funds account of the Federal 
Republic of Nigeria not later than 90 days from the date the last sale was 
completed. 
Proceeds of 
disposition 
 CHAPTER 12 
PENALTIES AND ENFORCEMENT MECHANISMS 
 
121. (1) Penalties in midstream and downstream petroleum operations 
shall be as prescribed in the Act and Regulations made by the Authority 
based on the nature and impact of regulatory breaches. 
 
(2) 
Penalties in midstream and downstream petroleum operations 
may arise as a result of — 
(a) a failure to undertake midstream and downstream petroleum 
operations in a manner that ensures — 
(i) 
the safety of lives and property, 
(ii) safe and sustainable operations, and 
(iii) the protection of the environment; 
(b) a failure to undertake midstream and downstream petroleum 
operations in accordance with the terms of a licence, permit 
or authorisation granted by the Authority; 
(c) financial impropriety; 
(d) mal-operation of facilities; 
(e) unfair market practices; 
(f) unlicensed operations or services; and 
(g) other unlawful practices or non-compliance prescribed by the 
Act. 
Penalties in 
midstream 
and 
downstream 
petroleum 
operations 
122. Where the Authority reasonably believes that a person is about to 
commit an offence or has committed an offence, the person shall be 
issued the following notices — 
Notices