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NUPRC, PwC in collaboration for desired goals in energy sector

By Kingsley Jeremiah, Abuja
17 November 2021   |   2:13 am
A new collaboration between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and PricewaterhouseCoopers (PwC), set to be underway, may address bureaucratic bottlenecks and improve capacity development in Nigeria's oil sector. When the Federal Government established the NUPRC last month on the backdrop of the implementation of the recently passed Petroleum Industry Act (PIA), Gbenga Komolafe,…

A new collaboration between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and PricewaterhouseCoopers (PwC), set to be underway, may address bureaucratic bottlenecks and improve capacity development in Nigeria’s oil sector.

When the Federal Government established the NUPRC last month on the backdrop of the implementation of the recently passed Petroleum Industry Act (PIA), Gbenga Komolafe, who heads the commission, noted that delivering a 21st century agency remained sacrosanct to the goals of the nation’s oil and gas sector.

Speaking during a courtesy visit by PWC, Komolafe noted that collaboration with PwC is being considered towards creating a new organisational culture that would evolve into a 21st century regulator.

The move, according to him, will lead to the development of a template that is expected to drive efficiency and reduce arbitrariness, by creating standard operating procedures and regulations that will propel the PIA in line with global best practices.

Komolafe emphasised that this would crystallise the Commission into a transparent, fair and cost effective regulator and business enabler for the upstream sector of the Nigerian oil and gas industry.

He added that the NUPRC would leverage the relationship with PwC to create a robust partnership investment that will drive the realisation of the PIA mandate in line with the aspirations of the government .

The team lead of PwC, Jide Adeola, in his response, pledged the corporation’s support and readiness to collaborate with NUPRC to achieve its vision of a 21st century Upstream regulator.

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