The exercise, which concluded on Friday, 13 February 2026, forms part of NDPHC’s strategic collaboration with global insurance partners to ensure that its critical power generation infrastructure meets international safety and risk management standards.

Speaking at the event, NUPRC officials emphasised that the entire process is being conducted strictly in line with the Constitution of the Federal Republic of Nigeria and all applicable laws governing upstream petroleum operations.

Nigerian Billionaire investor, Femi Otedola has exited Geregu Power Plc in a landmark $750 million transaction that sees him divest his 77% controlling stake in the power company.

The Vice President noted that the enactment of the Electricity Act 2023 represents a defining turning point for Nigeria’s power sector and for NDPHC, stressing that the legislation provides clearer legal authority, enhanced commercial credibility, and stronger institutional footing for the company to compete, partner, and grow within a more open and dynamic energy market.

The Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has disclaimed a statement purportedly issued by him in response to corruption allegations made by Alhaji Aliko Dangote.