Lokpobiri backs African petroleum regulators, seeks policy alignment.

By Firdaus Jibril

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has pledged the federal government’s support for the African Petroleum Regulators Forum (AFRIPERF).

This is as the Minister harped on stronger policy alignment among regulators noting that it will help create a more predictable investment environment across the continent.

Lokpobiri made this known the assurance when the Chairman of AFRIPERF, Mrs. Oritsemeyiwa Eyesan, paid him a sensitisation visit at the Ministry of Petroleum Resources headquarters in Abuja on Friday.

Speaking, Lokpobiri assured the forum that Nigeria would support the forum’s objectives of promoting cooperation among African petroleum regulators and harmonising regulatory policies across the continent.

“As a ministry, we will support the Forum; the benefits of this initiative will promote sustainable policy implementation. It is important for regulatory policies across Africa to be aligned, as this will make the continent more predictable and attractive to investors,” Lokpobiri said.

Earlier, Eyesan, who also also serves as the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the forum had continued to attract interest from petroleum regulatory institutions across Africa.

According to her, 16 African petroleum regulatory institutions have indicated interest in joining AFRIPERF, while eight countries have formally ratified their membership, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

She explained that AFRIPERF was established to identify regulatory gaps in Africa’s petroleum industry and strengthen collaboration among regulators through knowledge sharing and the adoption of best regulatory practices.

Eyesan added that the forum is committed to promoting effective resource extraction, development and utilisation to safeguard Africa’s natural resources while improving the continent’s energy security