The Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Board, Senator Magnus Abe, has decried the situation where major oil and gas investors are made to move between different offices across Abuja to transact business with the regulator, describing it as an embarrassment to the country.
Senator Abe stated this during an inspection of the Commission’s proposed permanent headquarters, The Barrel, a 10-storey building designed in the shape of a convex, curved cylinder, located at the Central Business District, Abuja.
The project, initiated in 2020, is yet to be completed, a situation that has forced the NUPRC to operate from smaller offices scattered across different locations in the Federal Capital Territory.
Speaking during the inspection, Senator Abe said the current arrangement portrayed a poor image of Nigeria to prospective investors.
“It is a thing of great embarrassment to this country when major oil and gas companies come to Nigeria to discuss investments worth billions of dollars, only to meet the regulator in a block of flats and from there proceed to other parts of the city to see different departments to conduct transactions with the NUPRC. This image is not just bad for the country, but bad for business,” he said.
NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, in a statement quoted him to have noted that once completed, the facility, which has the capacity to accommodate between 900 and 1,000 people, would provide a central location for the Commission’s operations and its engagements with industry players.
“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence,” he added.
The NUPRC Board Chairman also commended President Bola Ahmed Tinubu for giving members of the board the opportunity to serve the country, citing what he described as strong policy support and a clear vision for the oil and gas sector.
He said the impact of the administration’s policies was already visible in the renewed investment drive in Nigeria’s upstream petroleum sector, which he said was creating jobs, boosting business activities in host communities and increasing government revenue.
Also speaking during the inspection, the Commission Chief Executive, NUPRC, Mrs Oritsemeyiwa Eyesan, directed the contractor handling the project to fast-track construction work and ensure delivery by the first quarter of 2027.
Responding, the Managing Director of Julius Berger Nigeria Plc, Engineer Peer Lubasch, assured that the company would make efforts to meet the new timeline.
