Nigeria Companions UK on Gasoline Sector Framework
The Federal Authorities has taken a step in the direction of strengthening its fuel sector regulatory framework by way of a partnership with the UK’s Workplace of Gasoline and Electrical energy Markets.
An announcement on Sunday mentioned the partnership was sealed throughout a high-level assembly in London between the Minister of State Petroleum Assets (Gasoline), Ekperikpe Ekpo, and officers from the UK’s Ofgem and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Based on the assertion signed by Ekpo’s media aide, Louis Ibah, the collaboration goals to reinforce regulatory innovation and capability improvement in Nigeria’s fuel sector, with a give attention to home utilisation, regional vitality integration, gas-to-power tasks, growth of infrastructure by way of focused funding and innovation, together with pipelines and Compressed Pure Gasoline networks.
“The Federal Authorities additionally seeks to attract insights from Ofgem’s practices in selling investor confidence and shopper safety,” the assertion mentioned.
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Throughout the assembly, the fuel minister emphasised the necessity for sturdy collaboration between Nigerian and UK-based companies to spice up funding in fuel improvement, stressing that partnerships between the 2 international locations might entice investments to bolster Nigeria’s fuel infrastructure.
Ekpo additionally highlighted the significance of growing regulatory frameworks that assist the combination of renewable gases, similar to hydrogen, into Nigeria’s vitality combine.
“By fostering partnerships between Nigerian entities and UK-based companies, we are able to entice investments that can bolster our fuel infrastructure, guaranteeing environment friendly supply and utilisation.
“Nigeria is dedicated to decreasing methane emissions and selling decarbonisation in our upstream operations. Allow us to proceed to forge pathways that result in a extra affluent and energy-secure future,” Ekpo added, whereas looking for Ofgem’s expertise in overseeing emissions administration.
The Chief Govt of the NMDPRA, Farouk Ahmed, recommended the engagement, describing it as a well timed intervention for Nigeria’s regulatory improvement.
“With Osprey Investments bridging the hole, we’re tapping into international experience to construct a resilient, clear, and investor-friendly midstream framework,” he mentioned.
Each the Ministry and NMDPRA have been mentioned to have reiterated their dedication to sustained collaboration with Ofgem to drive reforms that align Nigeria’s fuel sector with international sustainability and financial targets.
