To guide its corporate planning and regulatory activities as well as propel it towards future growth and success, the Nigerian Upstream Regulatory Commission (NUPRC) on Tuesday unveiled a roadmap that would guide the diligent pursuance of its mandate in line with the prescriptions and expectations of the Petroleum Industry Act (PIA), 2021.
Also, the roadmap called “NUPRC Corporate and Regulatory Strategy” would outline steps the Commission would take to position itself as a leading regulatory body, fostering a thriving upstream petroleum sector that drives economic growth and ensures the sustainable development of Nigeria’s natural resources.
Performing the unveiled of the plan in Abuja on Tuesday, the Commission Chief Executive, Gbenga Komolafe, described it as a significant milestone in the organization’s journey to pursue its mandate under the provisions of the PIA.
Komolafe said the plan was a product of a dedicated team that worked tirelessly over the past months to develop a comprehensive strategy that reflects the Commission’s collective vision for the next decade and beyond.
“The strategy document encompasses key aspects that will define and drive our success,” he said.
“We have identified several core focus areas that will enable us to optimize value creation, diversify revenue resources, enhance stakeholder relationships, ensure regulatory compliance, attract investors, enhance transparency, improve operational efficiency, enhance resource management, foster enhanced internal collaboration, improve our organizational culture, strengthen our workforce, and optimize the use of technology. These aspects serve as the pillars on which our strategy is built, guiding our actions and initiatives moving forward,” he explained.
Giving further details on the plan, Komolafe said the development strategy consists of three phases guided by four key considerations, namely the PIA and global best practices, value creation,
effective operating model, and the people.
He said Phase 1 of the plan involves conducting an internal and external assessment of the Commission, to determine its standing, compared to other global regulators and industry trends.
This phase, he said, includes a PESTLE (Political, Economic, Social, Technological, Legal and Environmental) analysis of the oil and gas environment, benchmarking the Commission’s activities and performance indicators against other notable oil regulators around the world, and conducting interviews and surveys with NUPRC management and staff.
He said under Phase 2 of the plan, a three-day strategy retreat, which brought together local and international regulatory strategy experts, was held, with NUPRC executives, and top-level management in attendance.
During this retreat, the CCE said the Commission’s Vision, Mission, and Core Values were developed, along with strategic objectives and initiatives.
The initiatives, he said, were further reviewed and validated by the various departments in the Commission as part of Phase 3 of the plan, to ensure completeness before final approval by the Board for implementation across the organization.
“We have already embarked on significant actions that demonstrate our commitment to excellence. For instance, we have redesigned our organizational structure to ensure effective alignment and streamlined operations. We have also implemented a new employee corporate policy, replacing the CPPG, to provide clear guidelines and standards for our workforce.
“Our updated work processes are now well documented, with areas needing inter-departmental collaborations identified. Furthermore, we have undergone a comprehensive rebranding, including a redesign of our brand and logo, to reflect our renewed vision and commitment.
“Additionally, we have embraced a new way of working, that promotes innovation, collaboration, and efficiency throughout our organization.
“At the heart of our strategy lies a set of core values that will serve as our guiding principles. These values are Professionalism, Responsiveness, Ownership, and Integrity,” he said.
Highlighting the significance of these values and how they would shape the Commission’s culture and operations, the CCE said professionalism would ensure that NUPRC staff would always see his/herself as being entrusted with the responsibility of regulating the upstream sector with the utmost professionalism.
This, he pointed out, means the staff would uphold the highest standards of expertise, competence, and ethical conduct in the discharge of his or her responsibilities.
By embodying professionalism, he said the staff would inspire confidence in the Commission with its stakeholders, promote best practices and contribute to the overall growth and stability of the industry.
On Responsiveness, he said in a rapidly evolving sector, this would be crucial, as it would require the ability to adapt and respond swiftly to change.
He said the Commission’s strategic plan places a strong emphasis on responsiveness, to actively engage with its stakeholders, including industry players, government agencies, and the public, to understand their needs, concerns, and aspirations.
“By being responsive, we can address challenges promptly, anticipate emerging trends, and proactively shape policies that promote the sector’s sustainable development,” he said.
On Ownership, he described this as a fundamental value that empowers the Commission to take responsibility for its actions and decisions.
He said each one of the staff, regardless of his or her roles, would be expected to take ownership of his or her work, projects, and the overall success of the Commission.
Besides, h said this value would foster a culture of accountability, where initiative, innovation, and a sense of pride are encouraged with a good reward system.
By embracing ownership, he said the Commission would be able to drive positive change, promote efficiency, and deliver on our mandates with excellence.
He sees integrity as the organization’s bedrock, encompassing honesty, transparency, and ethical behaviour.
“As we move forward, we commit to upholding the highest standards of integrity in all our dealings. We will conduct ourselves with fairness, impartiality, and a strong sense of ethics. By demonstrating unwavering integrity, we build trust among stakeholders, strengthen our credibility, and foster a culture of trust and collaboration,” Komolafe said.
He said the unveiling of the strategic plan represents a significant milestone in the Commission’s journey towards excellence.
Apart from outlining the Commission’s goals, strategies, and actions that would shape its future, he described the plan as not just a document, but a call to action, an invitation for every staff to contribute to the realization of t corporate vision and the accomplishment of the mission to promote sustainable value creation from Nigeria’s petroleum resources for shared prosperity.
“Together, let us unite our efforts, leveraging our expertise, skills, and unwavering dedication to propel the NUPRC to new heights. Our vision of becoming Africa’s leading regulator is within reach, and it is through our collective commitment to our core values that we will achieve this
“Therefore, we should seize this opportunity to make a lasting impact, to shape an upstream sector that reflects our values, and to position Nigeria as a globally competitive player. Together, we can achieve remarkable milestones, realizing the full potential of our resources and driving sustainable development for the benefit of our nation and its people,” he said.