Depot Owners Laud NMDPRA for Enabling $1.2bn Investments in Modular Refineries 

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for its streamlining licensing processes that has attracted $1.2 billion in modular refinery investments since 2022.

Executive Secretary of DAPPMAN, Olufemi Adewole, stated this in a statement, attributing the stability, innovation, energy access and continuing growth in the Nigerian oil and gas downstream sector to strategic regulatory oversight by the Farouk Ahmed-led NMDPRA.

Aside the investments in modular refineries, which he said was sourced from the NMDPRA Industry Brief, 2024. Adewole noted that ooher notable achievements of the agency included its price stricter anti-smuggling measures which have reduced cross-border fuel diversion by 35 per cent, according to Security Report by the Nigerian National Petroleum Company Limited (NNPC).

He added that improved innovation and compliance enforcement through the Automated Downstream System (ADS) which is reducing hoarding and illegal sales through real-time monitoring of product distribution; zero tolerance for adulterated products yielding improved fuel quality, with 98 per cent compliance in major depots; and regulatory predictability driving long-term planning and investments were other notable achievements of the NMDPRA.

He said the “firm, fair and functional” leadership of the NMDPRA’s has facilitated improved operational efficiency, product availability, and investor confidence in downstream sector. 

Adewole maintained that the NMDPRA under the leadership of Ahmed is transforming the sector, adding that DAPPMAN would continue to support and work with the authority to achieve sustainability in the sector and enhance access to world-class energy solutions across the nation.