The federal government on Tuesday inaugurated the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Secretary to the Government of the Federation (SGF), George Akume, who inaugurated the board charged its members to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence.
At the inauguration of the board, according to a statement by the Special Adviser, Media and Publicity to the SGF, Yomi Odunuga, said the exercise marked a critical step in the implementation of the Petroleum Industry Act (PIA).
Mr Akume noted that the establishment and inauguration of the board underscore the federal government’s unwavering commitment to ensuring that Nigeria’s upstream petroleum resources are managed transparently, efficiently, and in the best interest of the Nigerian people.
He said the board is expected to provide strategic oversight, policy direction, and institutional stability necessary to enhance investor confidence, optimise revenue generation, and promote sustainable development within the upstream sector.
He emphasised that the appointments of board members reflect a deliberate selection of individuals with proven competence, integrity, and professional experience, expressing confidence that their collective expertise would strengthen the commission and advance the objectives of the PIA.
“Members of the board, your charge is clear. You are to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence,” he said.
He stressed that integrity, diligence, and fidelity to the law must guide all decisions of the board, noting that public trust and national interest depend heavily on their stewardship.
Mr Akume reiterated that the inauguration aligns with the Renewed Hope Agenda of President Bola Tinubu, which places premium on strong institutions, the rule of law, and integrity in public service.
He added that effective regulation of the upstream petroleum sector remains central to Nigeria’s economic growth, energy security, and long-term fiscal sustainability.
In January, Mr Tinubu nominated Magnus Abe to serve as the NUPRC board chair.
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Mr Abe, who represented Rivers South East in the Senate for two terms, is a former NNPC board member and current chairman of the National Agency of the Great Green Wall.
Other nominees for the NUPRC board are Paul Yaro Jezhi, a former Trade Union Congress chairman in Kaduna, and Sunday Adebayo Babalola, a former deputy director of the Department of Petroleum Resources (DPR), which was abolished by the PIA in 2021. Both men will serve as non-executive commissioners.
Mr Tinubu also nominated six executive commissioners to the board.
They are: Muhammed Sabo Lamido, executive commissioner for finance; Edu Inyang, executive commissioner for Exploration and Acreage; Justin Ezeala, executive commissioner for economic regulation and strategic planning; and Henry Darlington Oki, executive commissioner for Development and Production.
Others are Indabawa Bashari Alka, executive commissioner for corporate services and administration; Mahmood Tijani, executive commissioner for health, safety and environment; and Olayemi Adeboyejo, as secretary and legal adviser.
