File: Rabiu Umar, NMDPRA boss
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Rabiu Umar, has warned that uncertainty in the regulatory environment could undermine investments in Nigeria’s petroleum industry.
Umar said investors were prepared to manage commercial risks but found regulatory uncertainty more difficult to accommodate, stressing that clear, consistent and predictable rules were critical to attracting and retaining capital.
The NMDPRA chief executive stated this Wednesday in a message on regulatory certainty, where he highlighted the importance of predictable regulation to the development of Nigeria’s midstream and downstream petroleum sectors.
“Investors are prepared to manage commercial risk. What they find far more difficult is regulatory uncertainty,” he said.
