The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, yesterday said the commission will not pander to the wishes of either the oil producers or the crude refiners in the implementation of the Domestic Crude Supply Obligations (DCSO).
Komolafe stated that last night during an interview on the Arise News Prime Time, insisting that all parties to agreements must adhere to the extant directive or face sanctions.
He spoke on the heels of the arguments by oil producers and petroleum refiners around the non-compliance with the terms of the crude-for-naira policy and the DCSO enshrined in the Petroleum Industry Act (PIA) 2021, and the recent directive by the NUPRC to resolve the issues.
Komolafe stated that contrary to some assumptions, the regulator being alive to its statutory responsibilities had put in place regulations to guide the industry.
He said having put in place the regulation on domestic crude supply, it was expected that both the producers and the refiners comply with the regulation to avoid Nigeria suffering supply insecurity domestically.
