By Seun Ibiyemi
The Federal Government has inaugurated the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), charging members to uphold transparency, accountability, and regulatory independence in the nation’s petroleum sector.
The Secretary to the Government of the Federation (SGF), Sen. George Akume, gave the charge on Tuesday in Abuja during the formal inauguration of the board.
Akume said the inauguration reflected the government’s commitment to strengthening governance in the petroleum sector and ensuring efficient regulation of upstream petroleum resources in the interest of Nigerians.
He described the event as a major milestone in the implementation of the Petroleum Industry Act (PIA), which was enacted to reform the sector through clearly defined roles, regulatory independence, accountability, and global best practices.
According to him, as the apex governance body of the commission, the board is expected to provide strategic oversight, policy direction, and institutional stability that will boost investor confidence and promote sustainable development in the upstream petroleum sector.
The SGF noted that the development aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises strong institutions, the rule of law, and integrity in public service.
He added that effective regulation of the upstream petroleum sector remains critical to Nigeria’s economic growth, energy security, and revenue optimisation.
Akume commended members of the board, stating that their appointments reflected the careful selection of individuals with proven competence and integrity.
He expressed confidence that their collective experience and professionalism would strengthen the commission and advance the objectives of the Petroleum Industry Act.
He urged the board members to maintain high standards of corporate governance, collaborate effectively with management and stakeholders, and ensure accountability in the discharge of their responsibilities.
“As I formally inaugurate the board of the Nigerian Upstream Petroleum Regulatory Commission, I urge you to approach your duties with a strong sense of service and commitment to excellence,” he said.
Responding on behalf of the board, Chairman of the NUPRC Board, Sen. Magnus Abe, thanked President Bola Tinubu for the opportunity to serve the nation.
Abe assured Nigerians that the board would work diligently to achieve the objectives of the commission and justify the confidence reposed in its members.
He also appreciated the SGF for his support throughout the selection and confirmation process.
The chairman said members of the board fully understood the responsibility placed on them and would work closely with management to meet public expectations.
He pledged that the board would ensure the full realisation of the benefits envisaged under the Petroleum Industry Act and contribute to strengthening Nigeria’s petroleum regulatory framework.
