NIGERIA Law and Practice Contributed by: Ben Unaegbunam, Omolola Coker, Sanford Mba, Promise Osimhen, Chidera Chikere and Oluwaseun Denagan, Dentons ACAS-Law (Adepetun, Caxton-Martins, Agbor & Segun)
the Nigerian Upstream Petroleum Regulatory Com- mission (NUPRC). • The Midstream and Downstream Petroleum Safe- ty Regulations, 2023 , enforce safety standards in operations in the midstream and downstream petroleum sector and are administered by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Compliance with these health and safety laws is often included as a condition precedent in loan documenta- tion. Breach of EHS obligations may trigger events of default or drawstop provisions in the financing agree- ments. Consequently, sponsors must integrate EHS compliance into project planning and financing strat- egies from the outset to ensure lender confidence, mitigate risk, and avoid delays or cost overruns.
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