How would the new regulatory body handle this new mandate of regulating the industry? Would government still be involved?
National Petroleum Authority (NPA) will be established as an autonomous and independent Regulatory Authority by an Act of Parliament to take care of stakeholders’ interest in the petroleum downstream sector. This will remove the Government from the supply and financing of the petroleum requirements of the country and free resources for other developmental projects and programmes like building more roads, more schools, more clinics, more hospitals, improve on national security and many more. NPA’s roles shale include but not limited to the following: a) To issue notices in the form of directives, procedures or warnings to ensure fair competition and prevent cartels, monopolies and predatory pricing in the Industry. b) To conduct studies, research, surveys and analyses for the improvement of the efficiency and effectiveness of the industry and the protection of the consumer c) To develop a comprehensive database on international petroleum production/supply, demand inventory and price for
