The Nigerian Midstream and Downstream Petroleum Regulatory Authority (The Authority), Tuesday evening, informed the general public that limited quantity of Premium Motor Spirit (PMS), commonly known as Petrol, with methanol quantities above Nigeria’s specification was discovered in the supply chain.
Methanol is a regular additive in Petrol and usually blended in an acceptable quantity.
To ensure vehicular and equipment safety, the limited quantity of the impacted product has, according to the Authority, been isolated and withdrawn from the market, including the loaded trucks in transit
It went further: “Our technical team in conjunction with NNPC Ltd and other industry stakeholders, will continue to monitor and ensure quality petroleum products are adequately supplied and distributed nationwide.
The source supplier has been identified and further commercial and appropriate actions shall be taken by the Authority and NNPC Ltd. NNPC Ltd and all Oil Marketing Companies have been directed to sustain sufficient distribution of Petrol in all retail outlets nationwide.
Meanwhile, NNPC has intensified efforts at increasing the supply of Petrol into the market in order to bridge any unforeseen supply gap.”
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (Otherwise known as “The Authority”) was created in August 2021 in line with the Petroleum Industry Act 2021 which provides legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry as well as development of Host Communities.
Consequently, Mr President approved the appointment of Mr. Farouk Ahmed as the Authority Chief Executive of the NMDPRA as conveyed by the Secretary to the Government of the Federation to the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva to run the day-to-day affairs of the new regulatory authority.
NMDPRA’s encompasses a merger of three defunct regulatory agencies: Petroleum Products Pricing Regulatory Agency (PPPRA), Petroleum Equalization Fund {Management} Board (PEFMB), the Midstream and Downstream Divisions of the Department of Petroleum Resources (DPR). This birth has ushered a new dawn for establishing a progressive regulatory framework that encourages investment and full optimization of the midstream and downstream sector of the petroleum industry in Nigeria.