ICPC, NUPRC Strengthen Partnership to Promote Transparency in Petroleum Sector
By Chizoba Njaka
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have pledged to deepen their collaboration towards promoting transparency, accountability and integrity in Nigeria’s upstream petroleum industry.
The ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, made the commitment on Friday at the Commission’s headquarters in Abuja when the Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, and members of her management team paid him a courtesy visit.
Dr. Aliyu described the upstream petroleum regulator as strategically important to Nigeria’s economy, stressing that weaknesses affecting its operations could have significant consequences for the country’s economic development.
He said there was a need for both institutions to work closely in strengthening transparency and integrity within the petroleum sector, particularly as Nigeria requires increased investor confidence to grow the industry.
“Integrity in your sector is very important. We need investors, and if we are not transparent, it will be difficult for NUPRC to operate optimally,” Aliyu said, noting that corruption often flourishes where institutional safeguards and systems are weak.
The ICPC Chairman also commended NUPRC for its performance in the Commission’s Ethics and Integrity Compliance Scorecard (EICS), describing the achievement as evidence of its commitment to ethical conduct and institutional integrity.
Dr. Aliyu further called for increased information sharing and mutual trust between the two organisations, noting that the ICPC could benefit from NUPRC’s technical expertise in investigating matters relating to the petroleum industry. He also advocated closer cooperation in procurement and measures to prevent wastage and financial leakages.
Earlier, Eyesan explained that the upstream petroleum industry remains a major source of revenue for Nigeria and requires effective regulation, sound governance and an investment-friendly environment because of its capital-intensive nature.
She described the Petroleum Industry Act (PIA) as a major reform designed to transform the regulatory framework and restore investor confidence following years of declining investments in the sector. She added that NUPRC was also working to maximise Nigeria’s gas resources while improving governance across upstream operations.
The NUPRC chief executive disclosed that the Commission was reviewing the qualification requirements for its regular bidding exercises after encountering challenges involving some indigenous operators who lacked the financial and technical capacity to develop awarded assets. She also noted that disputes had contributed to delays in developing some assets.
Eyesan further announced that NUPRC would organise an onboarding programme for successful awardees in October and expressed the Commission’s intention to invite the ICPC to participate in the programme by sensitising operators on good governance, integrity and regulatory compliance.
She thanked the ICPC for its support and assured the Commission that NUPRC would continue to share relevant concerns and collaborate with it towards strengthening its operations and promoting a more transparent upstream petroleum sector.
Post a Comment