Close Menu
    What's Hot

    Zenith Bank Expands Footprint with Côte D’ivoire Subsidiary Launch

    April 28, 2026

    XRP Breaks Below $1.40 Amidst Ripple, Korea’s KBank Deal

    April 28, 2026

    Nigerian Overnight Financing Rate Steady on Liquidity Surplus

    April 28, 2026
    Facebook X (Twitter) Instagram
    • Home
    • About Us
    Facebook X (Twitter) Instagram WhatsApp
    MarketForces AfricaMarketForces Africa
    Subscribe
    Tuesday, April 28
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    Home - MarketForces News - Authority Revokes Defunct DPR Regulations
    News

    Authority Revokes Defunct DPR Regulations

    Marketforces AfricaBy Marketforces AfricaOctober 16, 2024No Comments3 Mins Read
    Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
    Authority Revokes Defunct Dpr Regulations
    Share
    Facebook Twitter Pinterest Email Copy Link

    Authority Revokes Defunct DPR Regulations

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), says regulations administered by the defunct Department of Petroleum Resources (DPR) in respect of midstream and downstream petroleum operations are revoked in its proposed 2024 regulations.

    It also revoked all regulations published in the Federal Gazette that have been consolidated into the 2024 Regulations and Petroleum Refining Regulations 1974.

    The authority made this known on Tuesday in Abuja during a presentation on the ‘Structure of the Midstream and Downstream Petroleum Operations Regulations, 2024′ by its Secretary and Legal Adviser, Dr Joseph Tolorunse.

    Tolorunse, in an overview of the regulations at its stakeholders consultation forum on the proposed midstream and downstream petroleum operations regulations 2024, said it also revoked the Midstream and Downstream Petroleum Operations Regulations, 2023.

    “Licence, permit and authorisation application and processing fees moved to Midstream and Downstream Petroleum Fees Regulations (Draft).

    “The revocation of the Regulations specified in regulations 145 (1) and (2) shall not affect anything done or purported to be done under the revoked regulations.

    “Any regulations administered by defunct Department of Petroleum Resources in respect of Midstream and Downstream Petroleum operations are hereby revoked,” he said.

    Also, Ogbugo Ukoha, Executive Director Distribution Systems, Storage and Retailing Infrastructure, said the stakeholders’ consultation was in furtherance of Section 216 of the Petroleum Industry Act 2021.

    Ukoha, who is also the Chairman, Technical Team on Stakeholders’ Engagement, said the PIA section mandated consultation with stakeholders prior to the finalisation of regulations made under the Act.

    “Section 33 of the PIA is to the effect that the Authority may make regulations for all activities relating to midstream and downstream petroleum operations in Nigeria”.

    He said the proposed 2024 Midstream and Downstream Petroleum Operations Regulations (Operations Regulations) consolidated 12 of the authority’s earlier gazetted or published regulations into a single document.

    “The consolidation process has enabled NMDPRA to reduce complexities of navigating and implementing its numerous regulations and streamline operations in the midstream and downstream petroleum regulatory industry.

    “The process has enabled the authority to address inconsistencies in the regulatory space; and engender further compliance with the PIA and Regulations made thereto.

    “The proposed Operations Regulations are also in consonance with President Bola Tinubu’s commitment to promoting ease of doing business in Nigeria.

    “These regulations are to be read in conjunction with other regulations made by the authority, including the Midstream and Downstream Petroleum Fees Regulations which provide for the prescribed fees for midstream and downstream petroleum activities.

    According to him, the Midstream and Downstream Petroleum Fees Regulations, following a successful stakeholder consultation and approval of the Ministers of State for Petroleum Resources, would soon be published in the Federal Government Gazette. #Authority Revokes Defunct DPR Regulations

    World Bank Approves $500m COVID-19 grant for Nigeria

    NMDPRA
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Related Posts

    News

    Zenith Bank Expands Footprint with Côte D’ivoire Subsidiary Launch

    April 28, 2026
    Cryptocurrency

    XRP Breaks Below $1.40 Amidst Ripple, Korea’s KBank Deal

    April 28, 2026
    MarketNews

    Nigerian Overnight Financing Rate Steady on Liquidity Surplus

    April 28, 2026
    Analysis

    FirstHoldco Dips by 10% Amidst Missed Regulatory Filing

    April 27, 2026
    News

    Emefiele Asks Court to Foreclose Prosecution if it Fails to Produce Witnesses

    April 27, 2026
    Cryptocurrency

    Bitcoin Dips as Clarity Act Stalls Over Trump’s Crypto Interest

    April 27, 2026
    Add A Comment

    Comments are closed.

    Editors Picks

    Zenith Bank Expands Footprint with Côte D’ivoire Subsidiary Launch

    April 28, 2026

    XRP Breaks Below $1.40 Amidst Ripple, Korea’s KBank Deal

    April 28, 2026

    Nigerian Overnight Financing Rate Steady on Liquidity Surplus

    April 28, 2026

    FirstHoldco Dips by 10% Amidst Missed Regulatory Filing

    April 27, 2026
    Latest Posts

    Zenith Bank Expands Footprint with Côte D’ivoire Subsidiary Launch

    April 28, 2026

    XRP Breaks Below $1.40 Amidst Ripple, Korea’s KBank Deal

    April 28, 2026

    Nigerian Overnight Financing Rate Steady on Liquidity Surplus

    April 28, 2026

    FirstHoldco Dips by 10% Amidst Missed Regulatory Filing

    April 27, 2026

    Emefiele Asks Court to Foreclose Prosecution if it Fails to Produce Witnesses

    April 27, 2026

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    About US
    About US

    MarketForces Africa is a financial information service provider with interest in media, training and research. The media platform provides information about markets, economies, and crypto, forex markets and investment ecosystem.

    Contact Us:
    Suite 4, Felicity Plaza, Freedom Estate Drive, Lagos-Ibadan Express Road, Magboro
    T: . 08076677707, 08052076440

    Facebook X (Twitter) Instagram Pinterest YouTube
    Latest Posts

    Zenith Bank Expands Footprint with Côte D’ivoire Subsidiary Launch

    April 28, 2026

    XRP Breaks Below $1.40 Amidst Ripple, Korea’s KBank Deal

    April 28, 2026

    Nigerian Overnight Financing Rate Steady on Liquidity Surplus

    April 28, 2026

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2026 Marketforces Africa
    • About
    • Contact us
    • Subscription Plans
    • My account

    Type above and press Enter to search. Press Esc to cancel.