Tag: NUPRC

Tinubu reconstitutes oil & gas regulators’ Boards

Aminu Imam
Tinubu reconstitutes

…Seeks Senate approval President Bola Tinubu has written two letters to the 10th Senate, seeking confirmation of 21 nominees for the Board of Directors of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), and the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC). In the first letter, President Tinubu nominated Senator Magnus Abe to serve as the NUPRC board chair. Abe, who represented Rivers South-East in the Senate for two terms, is a former NNPC Board member and current chairman of the National Agency of the Great Green Wall. Other nominees…

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Oil & Gas Corruption: Coalition alleges $20bn revenue diversion as Komolafe exits NUPRC

Aminu Imam
Coalition alleges revenue diversion

Fresh details have emerged over the resignation of  the immediate-past Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, following allegations of large-scale corruption and revenue concealment. Recall that President Bola Ahmed Tinubu last week accepted the resignations of Komolafe and Engr. Farouk Ahmed, former head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Recall that both men were appointed in 2021 under former President Muhammadu Buhari after the enactment of the Petroleum Industry Act, (PIA). While Farouk Ahmed has faced public corruption allegations…

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NMDPRA, NUPRC chiefs quit, as Tinubu names new regulators

Aminu Imam
NMDPRA, NUPRC chiefs quit

President Bola Tinubu has initiated a major shake-up in Nigeria’s oil and gas regulatory landscape following the resignation of the chief executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), and the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC). The President has formally asked the Senate to confirm new heads for both agencies, according to separate letters transmitted yesterday, and disclosed in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga. Engr. Farouk Ahmed resigned as Chief Executive of the NMDPRA, while Gbenga Komolafe stepped-down as…

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“PIA amendments, NNPCL shake-up, naming new concessionaire threaten Nigeria’s sovereignty” – Atiku warns

Aminu Imam
Atiku warns

Former Vice-President, Atiku Abubakar, on Monday, said the plan to amend the Petroleum Industry Act (PIA), risks undermining Nigeria’s sovereignty if not properly managed. Former People’s Democratic Party (PDP), and presidential candidate in the 2023 election, Atiku Abubakar, has said the move could erode public trust, destabilise the sector and compromise our energy security. Atiku, in a statement on his X handle, (formerly twitter), noted that recent developments surrounding the proposed amendments to the Petroleum Industry Act (PIA) and the planned divestment of significant equity in key joint ventures within…

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Alleged flagrant disregard of federal character: Senate probes NNPCL, NUPRC, NPA others 

Aminu Imam
Senate probes NNPCL

The 10th Senate has opened  investigative hearings into the alleged abuse and ineffective implementation of the federal character principle by key government agencies, marking a renewed push for equity in public recruitment and infrastructure distribution. The hearings, which is taking place at the Equal Opportunities Hearing Room 211 in the Senate Building at the National Assembly Complex, Abuja, are being led by the Senate Committee on Federal Character and Inter-Governmental Affairs, chaired by Senator Allwell Heacho Onyesoh (Rivers-East). This move follows a Motion raised in March by Senator Osita Ngwu…

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H/Reps uncovers over N32bn revenue leakages in NUPRC operations

Aminu Imam
H'Reps on revenue leakages

Summons CEO The Public Accounts Committee (PAC) of the Nigerian House of Representatives has revealed alarming revenue leakages totaling N32.15 billion within the Nigeria Upstream Petroleum Regulatory Commission, (NUPRC). The committee, chaired by Rep. Bamidele Salam, highlighted significant irregularities in the revenue generated for the federal government between 2015 and 2022, as documented in NUPRCs submitted report. During the committees recent session, it was disclosed that N909 million had been transferred directly into private accounts within Deposit Money Banks, bypassing the Treasury Single Account (TSA) protocols, a violation of government…

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?angote urges NUPRC to enforce the PIA act on crude supply

Aminu Imam
?angote urges NUPRC

?angote Petroleum Refinery Management has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to enforce the domestic crude supply obligation as specified in the Petroleum Industry Act, (PIA). ?angote insisted that refineries in Nigeria should be allowed to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen, as enshrined in the PIA act. Spokesperson of the ?angote Group, Anthony Chiejina, who made the appeal in statement on Thursday night, said the claim by NUPRC that it had facilitated the allocation of 29 million…

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Former DPR, NUPRC, attributes 40% of crude losses to measurement faults, not theft

Aminu Imam

Approximately 40 percent of the volumes credited to crude losses in the Nigerian petroleum industry are attributable to measurement inaccuracies and not theft as often reported. The Chief Executive of the Nigerian Upstream Regulatory Commission (NUPRC), Gbenga Komolafe, stated this at the Petroleum Club Quarterly Dinner, which was held in Lagos. Komolafe said the revelation followed a forensic audit conducted by the Commission between January 2020 to November 2022 on crude theft numbers, to ascertain with accuracy the stolen volume of crude oil within the reference period. Delivering his address…

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