The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) plans to collaborate with an Indian information technology firm, Infosys, on the digitalisation and automation of the regulatory processes in Nigeria’s upstream petroleum industry.
The plan is part of the apex oil and gas industry regulator’s significant steps to foster digital transformation of Nigeria’s upstream petroleum industry, to promote transparency and ensure accountability.
Pursuant to this plan, Senior NUPRC officials led by the Commission Chief Executive, Engineer Gbenga Komolafe, recently visited the headquarters of Infosys in Bengaluru, India, to formalise the details of the collaboration.
Infosys, reputed to be a global leader in information system technology with about 320,000 employees and about $18.6 Billion annual turnover, provides support and services to the major and national oil companies as well as service companies in the petroleum sector and other sectors, such as aviation, finance and so on globally.
During the visit the NUPRC delegation focused on exploring how Infosys’ cutting-edge technological solutions could could be deployed to support the Commission in achieving its regulatory mandate under the Petroleum Industry Act (PIA).
A statement at the end of the visit said central to the discussions were strategies to digitalise and automate key regulatory processes, streamline hydrocarbon accounting, and ultimately plug revenue leakages to enhance government revenues.
Also, the statement said the highlight of the visit was the strategic meeting between the NUPRC Chief Executive and the Chairman of Infosys, Mr. Nandan Nilekani.
During the meeting, both Chief Executives shared common vision on how technology could be leveraged to drive transparency, efficiency and accountability in Nigeria’s petroleum sector.
The NUPRC Chief Executive articulated a clear vision of how digital solutions could revolutionise hydrocarbon management, ensuring accurate accounting and regulatory oversight. On his part, Mr. Nilekani, renowned for his role in India’s digital transformation, expressed his alignment with this vision, offering Infosys’ expertise in automation and data-driven solutions to support NUPRC’s goals.
The visit marked the beginning of a potential partnership aimed at modernising the Nigerian upstream petroleum sector, with Infosys positioned to provide cutting-edge solutions tailored to the unique challenges faced by the NUPRC in the implementation of the Regulatory provisions of the PIA 2021 in the petroleum industry.
Both parties expressed commitment to exploring further collaborations to enhance regulatory efficiency, boost revenues, and establish Nigeria as a global leader in petroleum resource management.
