NPA Revokes Licences of 30 Oil Companies

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The National Petroleum Authority (NPA) has revoked the licences of 30 Oil Marketing Companies (OMCs) for non-compliance with the rules and regulations of the downstream petroleum regulator on the acquisition and maintenance of their licences.

In a statement on Thursday (12 January 2023), the NPA said, it “will bear no liability for any loss or damages that may be suffered to any person who chooses to engage with the affected OMCs in whatever capacity”.

At an earlier meeting with the board members of the Association of Oil Marketing Companies (AOMCs), the chief executive officer of the NPA, Mustapha Abdul-Hamid, cautioned that the Authority would not hesitate to revoke the licences of industry players who continually flout the rules.

He indicated that over the years, the NPA had been lenient with industry players who flout the rules, which had given opportunity for many more to flout the rules with impunity.

“We cannot all be in a conspiracy to run down our country and yet turn round to and blame the government for what goes wrong”, Dr. Abdul-Hamid was quoted as saying at the meeting with board members.

 

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