The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission on Tuesday formally resumed duties, pledging to strengthen the agency’s capacity to deliver on its statutory mandate at a time of heightened global oil market uncertainty.
This was contained in a statement issued by the Commission’s Head of Media and Corporate Communications, Eniola Akinkuotu. The development comes as Nigeria seeks to stabilise its upstream petroleum sector and attract fresh investment under the provisions of the Petroleum Industry Act.
Speaking shortly after the inauguration at the Commission’s headquarters in Abuja, the board chairman, Magnus Abe, assured the management of a collaborative approach aimed at repositioning the regulator.
“I want to assure management that we are here strategically to work with you and see that, as much as possible, we work together to uplift the Commission and to help our country,” Abe said.
He explained that the board would focus on providing effective leadership and oversight to enhance regulatory efficiency and sector performance.
Abe also identified inadequate office infrastructure as a critical challenge affecting staff productivity, promising that the board would prioritise securing a more suitable workspace for the commission. “I believe that of all the priorities we should have, getting proper office accommodation should take priority over everything else,” he stated.
In her remarks, the Commission Chief Executive, Oritsemeyiwa Eyesan, described the inauguration as timely, given the volatility in global oil and gas markets. She pointed to rising geopolitical tensions, particularly in the Middle East, as well as the ongoing global energy transition, as key factors shaping the operating environment.
“Today, the oil and gas industry is seeing volatility because of the war in the Middle East and the transition and its impact on the industry,” Eyesan said. “Nigeria must position itself to respond appropriately to both the energy transition imperative and the disruptions in the Middle East. I believe the Commission is positioned for the shocks or eventuality that may arise.”
She added that the management team remained committed to ongoing reforms aimed at strengthening regulation, improving efficiency, and enhancing the overall competitiveness of Nigeria’s upstream sector.
Earlier, the Secretary to the Government of the Federation, George Akume, said the inauguration reflected the Federal Government’s resolve to reinforce governance structures in the petroleum industry.
According to him, the board, as the apex governance body of the Commission, is expected to provide strategic oversight, policy direction, and institutional stability that will boost investor confidence and drive sustainable development.
“This development is firmly aligned with the Renewed Hope Agenda of Mr President, which prioritises strong institutions, the rule of law, and integrity in public service,” Akume said.
He charged members to uphold high standards of corporate governance, ensure transparency and accountability, and work collaboratively with stakeholders while maintaining regulatory independence.
The board’s inauguration comes at a critical period when Nigeria is seeking to increase crude oil production, curb losses from oil theft, and position itself competitively in a rapidly evolving global energy landscape.
The board comprises Abe as chairman, Eyesan as Commission Chief Executive, alongside members including Sunday Babalola, Paul Jezhi, Bashari Indabawa, Muhammed Sabo Lamido, Patience Oyekunle, Mustapha Lamorde, and Dalhat Muhammad Kamal, while Olayemi Adeboyejo serves as Commission Secretary and Legal Adviser.
The NUPRC, established under the Petroleum Industry Act, is responsible for regulating Nigeria’s upstream petroleum operations, including licensing, compliance, and ensuring optimal resource development.
