The gradual building of the capacities of local oil and gas firms to favourably compete with their foreign counterparts is a welcome development, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk has said.
Delivering a goodwill speech at the annual Independent Petroleum Producers Group (IPPG) dinner in Lagos, lauded members of the IPPG for staying the course even during challenging times.
His words: “The group has recorded enviable success in fostering a conducive environment for indigenous producers to establish an ever-growing share in petroleum exploitation in the country. Gradually, indigenous producers can favourably compete with other international oil companies and indeed, the IPPG members are also well positioned now to explore and compete on the global stage.”
The NMDPRA boss, who spoke on, ‘Enhancing production and meeting domestic demands’, said the annual dinner has been consistent and is symbolic of the professionalism and organization that the leadership of the IPPG has been demonstrating over the years.
He added: “The IPPG under the able and respectable leadership of my brother Abdulrazak Isah, has been a reliable partner to NMDPRA in its collaborative regulatory activities. As you know, the NMDPRA has maintained a structured stakeholder engagement mechanism, to ensure that our regulatory requirements facilitate growth and innovation in the industry.”
Engr Ahmed maintained that stakeholders and industry players should take stock of the contribution of the oil and gas sector to the development of the Nigerian economy with a view to bettering its impact.
His words: “As we close the year 2024 in a celebratory mode, let us take time to reflect on the contribution that our industry and our individual companies are making to the Nigerian economy. Let us also strategize for the year 2025, on how to expand our oil and gas production to further provide the molecules necessary to accelerate the development of the country.”
He urged the group to continue to support local industries by delivering on the domestic crude oil and gas delivery obligations and by providing more support to the programmes of government such as enhanced production targets, the Decade of Gas, and the Presidential Initiative on CNG.
He urged the petroleum production industry to enhance its sustainability practices such that Nigeria will continue to attract premium investments and compete favourably in the evolving global energy order.
He said: “We at NMDPRA wish to reiterate our commitment to provide continuous support to the industry through effective implementation of PIA provisions including business enabling regulations, efficient licensing and permitting processes and, strategic stakeholder engagement. Our doors remain open for constructive feedback and suggestions so that together, we will continue to grow the petroleum sector.” 
IPPG is an association of indigenous Exploration and Production (E&P) companies with a current membership of 28 companies. Its vision was premised on shared interest and desire to promote the continued development of the Nigerian petroleum industry for the benefit of industry stakeholders and the nation.
It was established in 2015 with the primary goal of maximizing the contribution of the domestic oil and gas industry to the socio-economic development of Nigeria.
