NUPRC has attracted investors’ confidence in Nigerian upstream sector

The Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe says the commission has, in the last two years, attracted investors’ confidence in the Nigerian upstream sector.

Komolafe said this at the weekend while receiving The Sun Public Service Award that was held at the Expo Convention Centre, Eko Hotel and Suites, Victoria Island, Lagos.

He reiterated the NUPRC’s commitment to oil sector growth through the development of regulations that would create value for the country’s hydrocarbon resources through increased productivity and revenue.

Addressing journalists after the presentation of the award, Komolafe explained that the commission in two and a half years of coming on board has been able to churn out about 17 regulations which serve as tools to ensure certainty and predictability of the activities in the upstream industry as against what was obtained in a pre-PIA regime.

He said, “For us at NUPRC, and in two and a half years that we resumed as pioneers to set up the NUPRC, we have dedicated ourselves to the service of the Federal Republic of Nigeria.

“In doing this, we have been working silently and assiduously to ensure that we implement our statutory mandate effectively in a manner that has now become a success story.

‘‘We have been able to attract investors’ confidence, certainty, and predictability in the industry. If you check, we have attracted CAPEX running to billions of dollars into the Nigerian upstream sector.”

The NUPRC boss said the award is a testament to the commission’s good work, adding that the recognition would serve as a motivation to keep doing more for Nigeria.

“So, we are happy that we have success stories to tell just in two and a half years, and while doing this with my dedicated team, we never knew the industry and relevant stakeholders were watching, all of which have culminated in the Award from Sun Publishing Limited today.

“What you have seen today is a message that the Nigerian society is watching and this award is a testament to our good work, but it further serves as a motivation for us to keep doing more for the good of the country. This Award means so much to us at NUPRC and we will strive to uphold the confidence bestowed on us by not letting Nigeria down,’’ Komolafe said.

He added that the task of nation-building is a collective effort that requires the aggregation of the energy of the citizenry and not a responsibility that should be left in the hands of the government alone.

‘‘It requires that all of us as citizens of Nigeria in whatever ramification we find ourselves should contribute our quota in a very dedicated manner towards the task of nation building,” he said.

Komolafe said in less than three years, he has received no less than 40 awards.