spot_imgspot_imgspot_img
NewsNUPRC Develops Alternative Dispute Resolution Rules, Procedures for Energy Sector
26.7 C
Lagos
HomeNewsNUPRC Develops Alternative Dispute Resolution Rules, Procedures for Energy Sector

NUPRC Develops Alternative Dispute Resolution Rules, Procedures for Energy Sector

- Advertisement -spot_imgspot_imgspot_img

NUPRC Develops Alternative Dispute Resolution Rules, Procedures for Energy Sector

By Frederick Wright
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has advanced on plans for the establishment of Alternative Dispute Resolution Center (ADRC) centers to further ease dispute settlements in the oil and gas sector.
  Already, the commission has commenced stakeholders’ engagement and consultation on the draft rules of procedure for the ADRC.
  Speaking at a stakeholders’ forum in Lagos, the Chief Executive, NUPRC, Gbenga Komolafe, stated that this initiative marks a significant advancement in improving the efficiency, fairness, and effectiveness of alternative dispute resolution within the upstream industry.
  Komolafe, who was represented by the Executive Commissioner, Development and Production, NUPRC, Enorense Amadasu, explained that the establishment of the centers is crucial for stabilising and resolving disputes related to commercial, production, and host community issues, among others.
  Noting that the ADRC was established in the 2021, he said: “We recognise that Alternative Dispute Resolution (ADR) mechanisms can play a crucial role in alleviating the burden on our courts, reducing litigation costs, and fostering a more amicable and collaborative approach to dispute resolution.”
      “As we gather here, our shared goal is to ensure that the ADRC operates with the highest standards of transparency, integrity, and responsiveness in line with the needs of the industry,” he said.
  Komolafe further stated that the ADRC aims to deliver an innovative, efficient, and cost-effective approach to dispute resolution, reinforcing industry stability and promoting sustainable growth.
  He said: ‘The draft rules we present today are the result of extensive research, and have been benchmarked against international best practices, while taking into careful consideration the industry within which we operate. We are however not ignorant of the value your insights will provide to ensure the practical effectiveness of these rules”.
  He underscored the importance of collaboration and active stakeholder participation in developing the ADRC Draft Rules of Procedure.
  The Commission’s Secretary and Legal Adviser, Mrs Olayemi Anyanechi, noted that NUPRC has been working diligently to make ADRC centers a source of pride for Nigeria and Africa.
  She mentioned that NUPRC has invited stakeholders, mediators, arbitrators, industry leaders, and business lawyers to review and refine the ADRC laws and procedures.
  According to her, once the final draft is agreed upon, the Commission plans to implement the ADRC processes at the centers.
  According to Anyanechi, these centers will mediate and resolve disputes in the Nigerian upstream oil and gas sector.
  Anyanechi stated that any settlement made at the ADRC are not just  symbolic, but carries the full weight of the law and it is perceived as court verdict.
- Advertisement -spot_img
- Advertisement -spot_img
spot_img
- Advertisement -spot_imgspot_imgspot_img

Celebrity Code

Serena Williams

Serena Williams is an American former professional tennis player. Born: 26 September 1981, Serena is 40 years. She bids farewell to tennis. We love you SERENA.

Quotes

Success is not final; failure is not fatal: It is the courage to continue that counts.

Must Read
- Advertisement -spot_imgspot_imgspot_img

NUPRC Develops Alternative Dispute Resolution Rules, Procedures for Energy Sector

By Frederick Wright
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has advanced on plans for the establishment of Alternative Dispute Resolution Center (ADRC) centers to further ease dispute settlements in the oil and gas sector.
  Already, the commission has commenced stakeholders’ engagement and consultation on the draft rules of procedure for the ADRC.
  Speaking at a stakeholders’ forum in Lagos, the Chief Executive, NUPRC, Gbenga Komolafe, stated that this initiative marks a significant advancement in improving the efficiency, fairness, and effectiveness of alternative dispute resolution within the upstream industry.
  Komolafe, who was represented by the Executive Commissioner, Development and Production, NUPRC, Enorense Amadasu, explained that the establishment of the centers is crucial for stabilising and resolving disputes related to commercial, production, and host community issues, among others.
  Noting that the ADRC was established in the 2021, he said: “We recognise that Alternative Dispute Resolution (ADR) mechanisms can play a crucial role in alleviating the burden on our courts, reducing litigation costs, and fostering a more amicable and collaborative approach to dispute resolution.”
      “As we gather here, our shared goal is to ensure that the ADRC operates with the highest standards of transparency, integrity, and responsiveness in line with the needs of the industry,” he said.
  Komolafe further stated that the ADRC aims to deliver an innovative, efficient, and cost-effective approach to dispute resolution, reinforcing industry stability and promoting sustainable growth.
  He said: ‘The draft rules we present today are the result of extensive research, and have been benchmarked against international best practices, while taking into careful consideration the industry within which we operate. We are however not ignorant of the value your insights will provide to ensure the practical effectiveness of these rules”.
  He underscored the importance of collaboration and active stakeholder participation in developing the ADRC Draft Rules of Procedure.
  The Commission’s Secretary and Legal Adviser, Mrs Olayemi Anyanechi, noted that NUPRC has been working diligently to make ADRC centers a source of pride for Nigeria and Africa.
  She mentioned that NUPRC has invited stakeholders, mediators, arbitrators, industry leaders, and business lawyers to review and refine the ADRC laws and procedures.
  According to her, once the final draft is agreed upon, the Commission plans to implement the ADRC processes at the centers.
  According to Anyanechi, these centers will mediate and resolve disputes in the Nigerian upstream oil and gas sector.
  Anyanechi stated that any settlement made at the ADRC are not just  symbolic, but carries the full weight of the law and it is perceived as court verdict.
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_imgspot_imgspot_imgspot_img

Celebrity Code

Adebimpe Oyebade

Adebimpe Oyebade is a Nollywood star, who recently got married to a colleague, Lateef Adedimeji in a glamorous wedding.

Quotes

Your present circumstances don’t determine where you can go. They merely determine where you start.

  • Nido Qubein
Must Read
Related News
- Advertisement -spot_img

Leave a Reply