The Chamber of Bulk Oil Distributors is reviewing the current National Petroleum Authority (NPA) ACT, 2005(ACT 691). This is in lieu of the overall amendment by the regulator, National Petroleum Authority.
The NPA seeks to amend and /or repeal certain sections of the NPA ACT,2005 (ACT 691) because of key developments that have emerged in the industry. Some of these are the deregulation and price liberalization regime, the introduction of ESLA and the 2018 Local Content policy and which have changed the dynamics in the sector.
In an interview, Policy and Research Manager Dennis Dei-Tutu announced “ the secretariat is putting together a committee of highly recommended persons [staff of BIDEC members] who will carefully review the Act.”
Meanwhile, members are kindly requested to review the existing NPA Act and send their comments to the Secretariat by Friday, 11th September 2020.