The Nigerian Midstream and Downstream Petroleum Regulatory Authority has hosted members of the Crude Oil Refinery-Owners Association of Nigeria (CORAN) for a strategic and regulatory engagement aimed at strengthening collaboration and advancing the growth of Nigeria’s refining sector.
The meeting, chaired by Authority Chief Executive, Mallam Rabiu A. Umar, provided a platform for open dialogue between the regulator and refinery owners on key regulatory issues affecting the establishment, operation and sustainability of modular and conventional refineries across the country.
Discussions during tbe engagement focused on enhancing regulatory compliance, streamlining licensing processes, addressing operational challenges, promoting investment in domestic refining capacity, and ensuring that refineries operate in line with applicable safety, environmental and technical standards.
The engagement also underscored the Authority’s commitment to fostering a transparent, predictable and investment-friendly regulatory environment that supports the Federal Government’s drive for energy security, increased local refining, reduced dependence on imported petroleum products and the creation of sustainable economic opportunities.
Participants exchanged ideas on practical measures to improve regulatory efficiency, strengthen industry collaboration and accelerate the development of Nigeria’s refining industry in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The meeting according to NMDPRA reaffirmed the authority’s commitment to continuous stakeholder engagement as a key strategy for building a resilient, competitive and self-sufficient downstream petroleum sector capable of meeting Nigeria’s growing energy needs.
