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Gbenga Komolafe |
The Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission have inaugurated a 10-member Joint Technical Working Committee to strengthen consumer protection in the energy sector.
According to the agency, the committee was established to address recurring complaints relating to competitive practices and service delivery in the oil and gas sector.
It has been mandated to share market data, monitor and investigate anti-competitive practices, and ensure adequate consumer protection. The Joint Committee, led by Mrs Omagu Nwachukwu, Deputy Director of Surveillance and Investigation, FCCPC, and Mr Charles Nwachukwu, Head of the Alternative Dispute Resolution Centre, NMDPRA, is also expected to identify potential threats to the sector that could negatively impact the market and escalate such issues to the top management of both organisations.
The Authority’s top management team, led by its Chief Executive, Engr. Farouk Ahmed had visited the FCCPC headquarters to meet with its Executive Vice Chairman/CEO, Mr Tunji Bello.
The meeting was aimed at charting a course for collaborative engagement to promote fair market prices and consumer value. The Authority also emphasised that its collaboration with the FCCPC is expected to establish a level playing field for operators, prevent monopoly, and provide modalities for prosecution in cases where abuse is established after further investigation.