Nigeria boosts ties with UK on fuel sector regulatory framework

The Nigerian Authorities has strengthened its fuel sector regulatory framework via a strategic partnership with the UK’s Workplace of Gasoline and Electrical energy Markets, Ofgem.

The 2 nations sealed the partnership at a high-level assembly in London between the Minister of State Petroleum Sources (Gasoline), Ekperikpe Ekpo, and officers from Ofgem and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.

The synergy is geared toward enhancing regulatory innovation and capability growth in Nigeria’s fuel sector, with a deal with home utilization, regional power integration, gas-to-power tasks, growth of infrastructure via focused funding and innovation, together with pipelines and Compressed Pure Gasoline, CNG, networks.

The Nigerian Authorities additionally seeks to attract insights from Ofgem’s practices in selling investor confidence and shopper safety.

In the course of the assembly, Ekpo emphasised the necessity for robust collaboration between Nigerian and UK-based corporations to spice up funding in fuel growth, stressing that partnerships between the 2 nations may appeal to investments to bolster Nigeria’s fuel infrastructure.

The Gasoline Minister additionally highlighted the significance of creating regulatory frameworks that assist the mixing of renewable gases, equivalent to hydrogen, into Nigeria’s power combine.

“By fostering partnerships between Nigerian entities and UK-based corporations, we will appeal to investments that can bolster our fuel infrastructure, guaranteeing environment friendly supply and utilization.

“Nigeria is dedicated to decreasing methane emissions and selling decarbonization in our upstream operations. Allow us to proceed to forge pathways that result in a extra affluent and energy-secure future,” Ekpo stated.