President Muhammadu Buhari has directed the Nigerian Upstream Petroleum Regulatory Commission -NUPRC to take over the supervision of all crude oil export terminals in the country.
This directive was contained in a letter addressed to both the Chief Executive Officer of the commission, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority NMDPRA, Gbenga Komolafe, and Farouk Ahmed, respectively.
Buhari, in the letter, noted that the exercise of any regulatory role by the NUPRC and NMDPRA on any existing crude oil export terminal established prior to the effective date of the PIA should cease immediately.
It added that NUPRC is the only regulatory entity to regulate and monitor the activities of all existing crude oil export terminals in Nigeria subsists in compliance with section 7ee of the PIA (2021).”
The president also ordered the Minister of state for petroleum resources to ensure immediate compliance and report back within 14 days that the resolution as stipulated in the letter are being adhered to by the NUPRC, NMDPRA, NNPCL, FMITI, industry players and relevant MDAS.