The Nigerian Secretary to the Government of the Federation (SGF), George Akume, has inaugurated the Board of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC.
The SGF, while inaugurating the Board in Abuja, Nigeria said the move was a proof of government commitment to strengthening governance in the petroleum sector and ensuring that the upstream resources are regulated transparently, efficiently, and in the best interest of every Nigerian.
READ ALSO:Â Refined Petroleum Products: FG Assures Nigerians of Steady Supply
” The inauguration of this Board is a key milestone in the implementation of the Petroleum Industry Act. The PIA was enacted to reform the sector by entrenching clarity of roles, regulatory independence, accountability, and global best practices.Â
As the apex governance body of the Commission, this Board is expected to provide strategic oversight, policy direction, and institutional stability that will enhance investor confidence and promote sustainable development in the upstream sector”. Akume disclosed
The SGF said the development aligns with the Renewed Hope Agenda of the present administration which prioritizes strong institutions, the rule of law, and integrity in public service.
He noted that the government remains focused on building systems that deliver value today, while safeguarding the future hence the focus on effective regulation of the upstream petroleum sector which is central to Nigeria’s economic growth, energy security and revenue optimization.
Akume charged the Board members to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence
“Integrity, diligence, and fidelity to the law must guide all your decisions, as public trust and national interest depend on your stewardship”.Â
Responding on behalf of the Board members , the Chairman, Magnus Abe pledged to do their best and work in harmony with the Management of the Commission.
” We’ll ensure that the value we expect from the PIA through this commission is delivered by us working together”.Â
