Reforms Implemented By NUPRC, NMDPRA Sanitising Oil & Gas Industry- Matrix CEO
The Chief Executive Officer of Matrix Energy Ltd, Abdulkadir Aliu, has said that the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are doing a lot to sanitise the oil and gas industry.
Aliu said his company will not support any firm or individual attempting to sabotage the interest of the Nigerian government.
The Matrix boss made the remark on Monday following the allegations on the importation of substandard diesel and an attempt to sabotage the Dangote Petroleum Refinery.
The CEO said his company commenced operation in 2024 with the goal of delivering value to Nigerians after former president Olusegun Obasanjo made efforts to deregulate the market.
He said the deregulation moved the market from the public sector to the hands of the private sector.
“When the market is deregulated, it means it’s a factor of demand and supply, willing buyer, willing seller. Since the market of diesel (AGO), jet kerosene and LPG fully deregulated, that is why you have seen so much progress in that market.
“We ‘ve seen a lot of depots that came in across the country, we ‘ve seen a lot of investment in people, buying vessels, people investing in storage facilities and all the rest.
“It is the best thing that has happened to the country, that today you can’t trade your diesel, you can trade your other deregulated product, it’s a factor of your capacity, it’s a factor of your ability to convince the buyers, it’s a buyers market, not sellers market. ,” Aliu said on a Channels TV programme monitored by THE WHISTLER.
According to him, since the enactment of the Petroleum Industry Act 2021 (PIA) which established the NMDPRA and the NUPRC, the industry has seen significant improvement.
“Anybody can bring in diesel, but in all government, then we have the Department of Petroleum Resources (DPR). DPR responsibility was to ensure that the quality of the product that comes in meets the country’s requirements, and now that we have NMDPRA, who are the regulators of the downstream, and we have NUPRC, who is the regulator upstream.
“Their primary responsibility is to license us to bring in product anywhere.As at now, in terms of the economic time, we are all filling form ‘M’, which is for import into the country.
“So it is the sole responsibility of NMDPRA to ensure that the standard, the specifications given to all the importers we comply with it, and in a situation whereby you bring in a product that is not that you cannot even discharge, you can’t even discharge that product.”
He said his firm does not have a problem with business disruption that gives better value to Nigerians.
Aliu added, “We are only presenting support of whatever is required for us as a nation to be self-sufficient in whatever we do. It’s not only on petroleum products.
“There are other things that will make Nigeria a better country. So, we would never work with whoever wants to sabotage or create an environment for the country that is all conducive for your customers and new investment to come into the country.”
