By Bassey Udo
Despite being in existence for just four years, the landmark achievements recorded by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are like it has been around for 50 years, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said.
Speaking in Abuja when a delegation of top management of the Commission led by its Chief Executive, Engr. Gbenga Komolafe, visited him, the Minister commended the Commission for effectively deliverying on its mandate.
He specially acknowledged Engr. Komolafe’s outstanding leadership qualities as the Commission marks its fourth anniversary.
The Minister lauded the CCE for completely changing the narrative in the activities in the upstream sector of the petroleum Industry by restoring confidence in line with the provisions of the Petroleum Industry Act (PIA), 2021.
Apart from the Commission delivering 19 world-class regulations that have given life to the PIA, the Minister said the rising rig count in recent times was further evidence of the changing narrative by the NUPRC under Komolafe’s leadership.
While congratulating the CCE and members of his management team for doing “an excellent job over the last four years”, he said their achievements bellies the young age of the Commission.
“The NUPRC is just four years old, but it looks like a 50-year-old institution. I don’t flatter when I talk. A four-year-old child will be in kindergarten, but the NUPRC’s achievements are like that of a 50-year-old institution. Today, the confidence is back in the industry and investments are coming.
“The NUPRC under your leadership has been discharging its mandate creditably well. You are regulating the upstream very effectively, and enabling businesses to thrive. I remember all the places we have gone together and other regulators come around just to learn how the NUPRC is regulating the upstream industry in Nigeria, and that is a testament to the fact that what you are doing back home is recognised globally,” he said
The Minister enjoined the Commission Chief Executive to leverage on the lessons and its achievements in the last four years to deliver more value to the upstream sector of the petroleum industry and the country.
Lokpobiri urged the management of NUPRC not to be “distracted by those who think their job is just to criticise”, adding: “For me, as the minister who has the role to supervise the NUPRC, I want to state here that this is a journey that we have to make together. We are going to be judged on whether, during our time, we were able to improve the sector.”
He noted that the experience of the NUPRC boss was expedient for laying the foundation of the NUPRC.
Also he expressed happiness that there was some peace in the Niger Delta region, especially in the way the Commission has managed the Host Community Trust Fund.
He said the NUPRC was taking the industry to a destination where Nigerians would not even expect.
Responding, the CCE described the 4th anniversary of the Commission as a special moment in its history, added that the achievements recorded were products of the support of President Bola Tinubu, and the Minister of State for Oil.
The NUPRC boss thanked the minister for his leadership and support in the regulatory activities of the Commission and reiterated that as part of its mandate, the Commission has functioned as a business enabler and opportunity marketer in the upstream sector.
He told the Minister that his management team was able to record a number of high-impact achievements that have restored investors’ confidence in the industry and stabilise the industry regulatory-wise.
“We have been able to reintroduce ‘certainty and predictability’ into regulatory activities in the industry; develop and gazette 24 forward-looking regulations which are the tools by which we regulate the industry in a very predictable direction that for now has earned us investors’ confidence, unlike where we took up from,” Komolafe said.
