Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Senator Magnus Abe, has urged President Bola Ahmed Tinubu to ensure that every available barrel of Nigeria’s crude oil is produced and monetised while global demand remains strong.

Abe reaffirmed the commission’s commitment to supporting the Federal Government’s energy sector reforms and maximising the nation’s oil and gas resources.

He said the board would discharge its oversight responsibilities in a manner that adds measurable value and strategically supports the commission in meeting the expectations of Nigerians.

Abe who stated this at the 2026 Board Strategic Retreat of the NUPRC Governing Board in Isimi, Lagos, said “We are fortunate to have a leader in President Bola Ahmed Tinubu who understands the urgency of maximising national opportunities when they offer the greatest returns,” .

He added: “The Board of the NUPRC, as an institution, must use this gathering to send a clear message to Mr President and the nation that we are fully committed to our mandate. We will execute our responsibilities in a progressive manner that adds visible value, strategically supporting and empowering the Commission to meet the high expectations of the Nigerian people.”

Abe stressed that timing was critical to Nigeria’s economic future, noting that the global energy landscape was changing rapidly.
“The future belongs to those who understand timing. You may possess every resource and advantage, but if you fail to act at the right time, those opportunities may be lost forever,” he said.

According to him, while oil remains central to global energy security, many of the world’s largest economies are accelerating their transition to renewable and alternative energy sources to reduce dependence on imported crude.

He identified countries such as China, India, Germany and Japan as nations pursuing energy independence for strategic and security reasons.

“Global markets are not merely moving away from fossil fuels because of climate change; they are racing towards energy independence,” he said.

Abe maintained that the NUPRC, as the apex upstream regulator, occupies a strategic position in Nigeria’s ongoing energy sector reforms, adding that a robust regulatory framework is essential to driving economic growth, increasing production and restoring investor confidence.

He commended President Tinubu, the Ministers of State for Petroleum Resources, the Special Adviser on Energy, the leadership of the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Commission Chief Executive (CCE) for advancing reforms in the sector.

According to him, the reforms are already yielding increased oil production, greater regulatory certainty and renewed investor confidence.

In a statement signed by his spokesman, Dr Parry Benson, Abe reaffirmed the commission’s commitment to implementing the Tinubu administration’s mandate and sustaining reforms aimed at unlocking the full potential of Nigeria’s upstream petroleum sector.