NMDPRA unveils rules to curb petroleum market abuse

Proposes 138 regulations on competition across oil value chain By Obas Esiedesa, Abuja ABUJA — The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has unveiled proposed regulations aimed at curbing monopoly, abuse of market dominance, collusion and other anti-competitive practices in Nigeria’s petroleum midstream and downstream sectors. The proposed Midstream and Downstream Petroleum Prevention of Anti-Competitive Practices and Behaviour Regulations, 2026 are also designed to guarantee open and non-discriminatory access to critical petroleum infrastructure, improve market transparency and promote fair competition. Speaking at a stakeholders’ consultation forum on the regulations in Abuja, NMDPRA Chief Executive, Mallam Rabiu Umar, said the framework was being developed pursuant to Section 216 of the Petroleum Industry Act, PIA, 2021.

Umar said the regulations would strengthen the sector by preventing anti-competitive practices, addressing abuse of dominance and promoting fair access to essential infrastructure. He said the Authority had received submissions from stakeholders on the draft and would consider their views before finalising the regulations. He said the proposed rules were intended to enhance transparency, market efficiency and certainty for investors while promoting innovation and competition. “This is therefore a consultation in the true sense of the word. We are here to listen, to learn and improve the draft where necessary,” Umar said. The NMDPRA chief also disclosed that the Authority had recently signed a Memorandum of Understanding, MoU, with the Federal Competition and Consumer Protection Commission, FCCPC, to strengthen competition regulation in the petroleum sector. He said the mandates of both agencies were…