The Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Sen. Magnus Abe has said the failure to complete the Commission’s proposed headquarters in Abuja was undermining Nigeria’s image before major oil and gas investors.
Abe said it was embarrassing for multinational oil companies arriving in Nigeria to discuss investments worth billions of dollars to meet the industry regulator in different office locations across the Federal Capital Territory.
He spoke during an inspection of the proposed NUPRC headquarters, known as “The Barrel”, in Abuja.
The 10-storey building, which has the capacity to accommodate between 900 and 1,000 people, is being constructed in the likeness of a convex, curved cylinder that bulges outward at its centre.
The project, located in Abuja’s Central Business District, was initiated in 2020 but remains uncompleted, leaving the NUPRC to operate from smaller offices at different locations within the FCT.
Abe said the situation was not only inconvenient for the Commission but also projected a poor image of Nigeria’s business environment to prospective investors.
He said, “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.”
According to him, completing the headquarters would provide a central location for the Commission’s operations and engagements with industry players, while projecting confidence in Nigeria’s oil and gas sector.
“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence,” Abe added.
He said a functional permanent headquarters would also improve the efficiency of the regulator and create a more appropriate environment for engagements with investors and other stakeholders in the upstream petroleum industry.
Abe commended President Bola Tinubu for giving members of the board the opportunity to serve, as well as for what he described as strong support, policy clarity and a clear vision for the oil and gas industry.
He said the impact of the administration’s policies was already evident in the resurgence of investment in Nigeria’s upstream petroleum sector.
According to him, the investments were creating employment and business opportunities, driving development in host communities and increasing government revenues.
Also speaking, the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, urged the contractor handling the project to accelerate construction and ensure delivery by the first quarter of 2027.
The Managing Director of Julius Berger Nigeria
Plc, Engineer Peer Lubasch, assured the Commission that the contractor would make efforts to meet the deadline.