Nigeria, 7 African Countries Endorse Petroleum Regulators’ Charter

Nigeria and 7 different African countries person endorsed a landmark charter establishing the African Petroleum Regulators Forum (AFRIPERF), mounting a caller people for harmonised petroleum regularisation and concern promotion crossed the continent.

The signing ceremonial occurred connected Thursday, connected the sidelines of the 31st Africa Oil Week successful Accra, Ghana, chaired by the main enforcement of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and interim president of AFRIPERF, Engr. Gbenga Komolafe.

The NUPRC, which made this known, stated that regulators from 16 African countries attended, but eight—including Nigeria, Ghana, Somalia, Gambia, Madagascar, Sudan, Guinea, and Togo—officially signed the AFRIPERF Charter.

Following the endorsement, Komolafe described the juncture arsenic “a decisive measurement towards a harmonised and sustainable petroleum manufacture successful Africa.” He explained, “This Charter is not conscionable a document—it is simply a committedness by African nations to negociate our hydrocarbon resources responsibly and innovatively successful the look of planetary vigor transitions.”

He emphasised the value of practice to elevate Africa’s petroleum sector: “By moving together, we volition heighten concern opportunities, make wide and accordant rules, and guarantee transparency that benefits each stakeholders.”

Tracing the Forum’s origins, helium said, “From the archetypal connection past year, done our inaugural gathering successful July 2024 and consequent gatherings, we person built beardown foundations for this continental partnership. Today’s signing is the culmination of these corporate efforts.”

The AFRIPERF Charter establishes 3 cardinal bodies: an Executive Committee made up of heads of regulatory agencies to usher implementation; a Technical Committee comprising experts to code circumstantial regulatory challenges; and a Secretariat to coordinate activities. “These structures supply the functional pillars for delivering tangible results with accountability and timelines,” Engr. Komolafe noted.

“The Charter explicitly aims to harmonise petroleum regulations crossed Africa,” helium said. “This harmonisation is indispensable for reducing regulatory fragmentation, attracting planetary investment, and safeguarding information and biology standards.”

Chairman of Nigeria’s Senate Committee connected Upstream, Senator Etang Williams, attended the lawsuit arsenic an perceiver and welcomed the development. “This is simply a important milestone for Africa’s lipid and state sector,” helium said. “A agreed regulatory beforehand strengthens our negotiating powerfulness and enhances assemblage governance.”

AFRIPERF’s mission, arsenic outlined successful the Charter, is “to heighten practice and collaboration among African petroleum regulators to guarantee a safe, efficient, rewarding, equitable, and sustainable petroleum industry.” Its imaginativeness is to go “the premier level for African regulators to stock cognition and champion practices successful petroleum governance.”

Engr. Komolafe highlighted the Forum’s broader benefits: “Beyond harmonisation, AFRIPERF volition beforehand ethical practices, transparency, exertion adoption—including digitalisation and renewable integration—and enactment emanation simplification efforts.”

He projected aligning AFRIPERF’s Annual General Meeting with Africa Oil Week to maximise engagement. “This concern volition fortify our corporate dependable and facilitate shared learning.”

AFRIPERF is poised to alteration Africa’s petroleum landscape. Eight nations person signed the Charter, and 7 others person pledged support. The adjacent steps see electing the Forum’s Chairperson, nominating representatives from subordinate regulators, and designating its headquarters.

“This is simply a historical day,” Engr. Komolafe concluded. “Together, we are mounting the instauration for Africa’s petroleum future—collaborative, sustainable, and investment-friendly.”