NUPRC Board Resumes Duties, Pledges Oil Sector Reforms Amid Global Energy Uncertainty

The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially resumed duties, pledging to drive key reforms in Nigeria’s oil and gas sector. The move comes at a time when global energy markets are experiencing significant uncertainty, prompting renewed focus on stability and investor confidence in Nigeria’s upstream petroleum industry.

Speaking during the inauguration at the commission’s headquarters in Abuja, Board Chairman Magnus Abe emphasized the importance of collaboration between the board and management. He noted that the priority is to strengthen the institution’s capacity to deliver on its mandate under the Petroleum Industry Act and support national economic goals.

Abe also highlighted operational challenges facing the commission, particularly inadequate office infrastructure, describing it as a priority area for immediate attention. According to him, improving working conditions will help boost staff productivity and overall regulatory efficiency in the sector.

Commission Chief Executive Oritsemeyiwa Eyesan welcomed the board’s inauguration, describing it as timely given ongoing volatility in global oil markets. She pointed to geopolitical tensions in the Middle East and the global energy transition as major forces reshaping the industry, stressing the need for Nigeria to remain responsive and competitive.

Meanwhile, Secretary to the Government of the Federation, George Akume, said the new board aligns with the Federal Government’s Renewed Hope Agenda, which prioritizes strong institutions and transparency. He urged members to uphold accountability and good governance as Nigeria intensifies efforts to boost crude production, reduce oil theft, and attract investment into the upstream sector.

source: punch