NUPRC seeks completion of headquarters to boost Nigeria’s investment appeal

The Nigerian Upstream Petroleum Regulatory Commission has called for the speedy completion of its proposed headquarters, The Barrel, saying the facility will enhance the commission’s efficiency and strengthen Nigeria’s appeal to investors.

According to a statement by the Head, Media and Corporate Communications, Eniola Akinkuotu, on Thursday, the proposed 10-storey building, which can accommodate between 900 and 1,000 people, is being constructed in the likeness of a convex, curved cylinder that bulges outward at its centre.

Located in the Central Business District, Abuja, the project was initiated in 2020 but remains incomplete, forcing the NUPRC to operate from smaller offices at different locations across the Federal Capital Territory.

Akinkuotu noted that speaking during an inspection of the proposed headquarters, the Chairman of the NUPRC Board, Senator Magnus Abe, said the current arrangement projected a negative image of Nigeria, particularly to major oil and gas companies seeking to invest billions of dollars in the country.

“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, the statement quoted Abe as saying.”

He said the proposed permanent headquarters would provide a central location for the commission’s operations and engagements with industry players, while also serving as a symbol of national pride and 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.

The NUPRC chairman commended President Bola Tinubu for giving members of the board the opportunity to serve the country and for providing what he described as strong support, policy clarity and a clear vision for the oil and gas industry.

According to him, the impact of the administration’s policies was already evident in the resurgence of investment in Nigeria’s upstream petroleum sector.

Abe said the investments were creating employment and business opportunities, while driving development in host communities and increasing government revenues.

Also speaking, the NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, urged the contractor to fast-track construction and deliver the project by the first quarter of 2027.

The Managing Director of Julius Berger Nigeria Plc, Engineer Peer Lubasch, promised to make efforts to meet the timeline.

SOURCE: PUNCH NEWS PAPER

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