By Peregba Jerry
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday commenced the consultation for the amendment of the host community regulation implementation regime.
The Commission Chief Executive Officer, Gbenga Komolafe disclosed this in Abuja during the 4th Phase Consultation with stakeholders on regulations development as mandated by Section 216 of the Petroleum Industry Act 2021 (PIA).
He introduced for consultation the Draft Amendment to the Nigerian Upstream Petroleum Host Communities Development Regulations 2022
According to him, the essence of the amendment was to ease the administrative process and provide regulatory clarity to the challenges the implementation of the regime has thrown up in the last one year since the initial regulation was established.
The Executive Commissioner, Economic Regulation and Strategic Planning, Dr. Kelechi Ofeogbu, who represented him, said: “This draft amendment regulation seeks to introduce certain amendments to the existing regulation on the implementation of the host community regime to further ease the administrative process and provide regulatory clarity to the challenges that the implementation of the regime has thrown up in the last one year since the initial regulation was established.”
Other three regulations that the commission tabled for amendment were : Draft Upstream Commercial Operations Regulations 2023;
Draft Nigerian Upstream Petroleum (Administrative Harmonization) Regulations 2023; The Draft Upstream Petroleum Code of Conduct & Compliance Regulations 2023;
Draft Petroleum Assignment of Interest Regulations 2023 Komolafe, however noted that this phase of public hearings on the making of regulations for the upstream is divided into two segments.
He said the first segment would run from 9th October to Friday 13 October.
The Second segment, he said, would start from the 8 to 10 November, 2023.
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