The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is pushing to strengthen Nigeria’s image as an investment destination for the oil and gas industry, with plans to fast-track the completion of its proposed permanent headquarters, The Barrel, in Abuja.
The 10-storey facility, located in the Central Business District, Abuja, was initiated in 2020 and is designed to accommodate between 900 and 1,000 people. However, delays in completing the project have left the NUPRC operating from different office locations across the Federal Capital Territory, a situation the commission says could undermine the ease of doing business for major investors.
Speaking during an inspection of the project, NUPRC Board Chairman, Senator Magnus Abe, said the current arrangement creates an unfavourable impression when international oil companies and other investors visit Nigeria to discuss multi-billion-dollar projects. He stressed that bringing key regulatory departments under one roof would make engagements easier and project a stronger image of Nigeria’s oil and gas sector.
Abe said the completion of The Barrel would provide a central hub for the commission’s operations and interactions with industry players, while also symbolising national confidence in the petroleum sector. He added that recent government policies were already contributing to renewed investment in Nigeria’s upstream industry, with increased activity creating jobs, business opportunities, host-community development and higher government revenue.
The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, directed the contractor to accelerate work and deliver the headquarters by the first quarter of 2027. Julius Berger Nigeria Plc Managing Director, Engineer Peer Lubasch, assured the commission that the contractor would make efforts to meet the deadline, as the project is expected to play a key role in improving the efficiency of the regulator and Nigeria’s investment appeal.
source: The guardian
