By Etuka Sunday
Worried by the state of infrastructure in the downstream of the Nigerian oil and gas sector, the Petroleum Products Pricing Regulatory Agency (PPPRA) said it will commence a comprehensive audit and survey of downstream oil and gas logistic facilities with a view to assessing their state, adequacy and identify the infrastructure gap in the sector.
The PPPRA said, it recognises that the state of infrastructure in the downstream requires constant assessment to ensure uninterrupted supply of products in addition to providing up to date data for operation in the sector.
The Executive Secretary, PPPRA, Abdulkadir Saidu in a statement said, Oil and gas processing, storage and distribution facilities, jetties downstream and pipelines, retail outlets for oil and gas (LPG) etc. will be the focus of the survey which is equally aimed at assessing the impact of government policy and regulation on the sector’s operating environment and viability, with a view to addressing identified loopholes.
The exercise, which is expected to commence in the second half of 2019, is a long-awaited exercise by operators and other stakeholders and the outcome is expected to contribute to policy formulation and impact investment decision-making by investors.
The Abdulkadir Saidu-led management of the PPPRA is championing this exercise, which is in furtherance of the reform programme of Mr President in the oil sector.
All oil and gas depot owners, marketers, retail outlets and LPG plant owners are stakeholders in this exercise, the ultimate objective of which is to enhance the commercial viability of the sector and improve its level of attractiveness as investment capital destination of choice for would-be investors.
We therefore wish to solicit the cooperation and support of all stakeholders in ensuring its success.