Mkpoikana Udoma
Port Harcourt — The Federal Government has reaffirmed its commitment to a business-driven downstream oil sector, declaring that regulators will ultimately be judged by the number of businesses they enable to thrive, not by the volume of regulations they issue.
Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, made this assertion while receiving the new Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Saidu Aliyu Mohammed, on a familiarisation visit.
“Regulatory agencies will ultimately be judged by the number of businesses they enable, not by the number of regulations they implement, because the sustainability of our economy lies in more vibrant, compliant businesses,” Lokpobiri said.
He explained that the deregulation of the downstream petroleum sector under President Bola Ahmed Tinubu was deliberately designed to unlock investment, strengthen industry players and expand Nigeria’s oil and gas prosperity.
“The very essence of downstream sector deregulation is to allow businesses to thrive, strengthen the sector, and expand our national oil prosperity,” the minister stated.
Lokpobiri identified safety and supply stability as immediate priorities for the new NMDPRA leadership, particularly the recurring incidents of tanker explosions across the country.
“We must put an end to tanker explosions. To a large extent, this challenge has already been curtailed, but we must sustain and deepen those gains,” he said.
He also assured Nigerians that the Ministry was working closely with the NMDPRA to ensure uninterrupted petrol supply nationwide, stressing that efficiency and responsiveness remain central to the Tinubu administration’s energy agenda.
“Under the Renewed Hope Administration, no licence application remains beyond 24 hours on my desk without attention,” Lokpobiri disclosed.
Commending Engr. Mohammed on his appointment, the minister urged him to bring decisive leadership to bear in transforming Nigeria’s downstream energy landscape.
“I urge the new Authority Chief Executive to bring his A-game as we work together to transform our energy landscape,” Lokpobiri added.
