Uphold highest standards of corporate governance, accountability, Akume charges NUPRC board

Oritsegbubemi Omatseyin

Lagos — The Secretary to the Government of the Federation, SGF, George Akume, has charged members of the Board of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence.

Senator Akume gave the charge in Abuja during the inauguration of the Board of NUPRC, describing the ceremony as significant milestones in the Federal Government’s drive to strengthen governance frameworks, deepen sectoral reforms, and accelerate inclusive national development.

The SGF stated that the exercise marked a critical step in the implementation of the Petroleum Industry Act, PIA, which was enacted to reposition Nigeria’s petroleum industry through enhanced regulatory clarity, institutional independence, accountability, and adherence to global best practices.

He noted that the establishment and inauguration of the Board underscore the Federal Government’s unwavering commitment to ensuring that Nigeria’s upstream petroleum resources are managed transparently, efficiently, and in the best interest of the Nigerian people.

According to him, as the apex governance body of the Commission, the Board is expected to provide strategic oversight, policy direction, and institutional stability necessary to enhance investor confidence, optimise revenue generation, and promote sustainable development within the upstream sector.

The SGF emphasised that the appointments of Board members reflect a deliberate selection of individuals with proven competence, integrity, and professional experience, expressing confidence that their collective expertise would strengthen the Commission and advance the objectives of the PIA.

“Members of the Board, your charge is clear. You are to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence,” he said.

He further stressed that integrity, diligence, and fidelity to the law must guide all decisions of the Board, noting that public trust and national interest depend heavily on their stewardship.

Senator Akume reiterated that the inauguration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which places premium on strong institutions, the rule of law, and integrity in public service. He added that effective regulation of the upstream petroleum sector remains central to Nigeria’s economic growth, energy security, and long-term fiscal sustainability.

Senator Akume urged members of the Board to approach their assignments with a strong sense of duty, patriotism, and commitment to national development, assuring them of the Federal Government’s continued support in the discharge of their responsibilities.

He congratulated the Chairman and members of the Board on their appointments and expressed optimism that their tenure would be marked by impactful contributions that would strengthen institutional performance and advance Nigeria’s development priorities.

In his response, Chairman of the Board of NUPRC, Senator Magnus Abe, expressed profound gratitude to President Tinubu for their appointment amid millions of qualified Nigerians, and praised Akume’s exemplary role in the selection and confirmation process.

“We are very grateful to the President and we want to assure him through you that we will not disappoint him,” Abe said.

Abe pledged that the board would study Akume’s charge diligently, collaborate with management, and deliver the PIA’s objectives to meet the expectations of the government and Nigerian people. He highlighted the members’ pedigree and integrity, assuring continued reliance on Akume’s guidance and support.

The chairman also promised to ensure that the NUPRC gets a more befitting office to maximise staff productivity.

“I believe that of all the priorities we should have, getting a proper office accommodation should take priority over everything else,” he stated.

In her remarks, the Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, congratulated the new board members, adding that the Commission depends on them for direction in line with the Petroleum Industry Act.

Eyesan described the inauguration as coming at a most auspicious moment especially amid the current spike in oil and gas prices occasioned by the Middle East crisis.

“Today, the oil and gas industry is seeing volatility because of the war in the Middle East and the transition and its impact on the industry.

“Nigeria must position itself to respond appropriately to both the energy transition imperative and the disruptions in the Middle East. I believe the Commission is positioned for the shocks or eventuality that may arise,” she added.

The NUPRC chief executive also restated the commitment of the Commission’s management team to reform the industry.

Members of the board inaugurated include: Senator Magnus Abe (Chairman); Mrs. Oritsemeyiwa Eyesan (commission chief executive); Engineer Sunday Babalola(non-executive commissioner); Engineer Paul Jezhi (non-executive commissioner); Bashari Indabawa (executive commissioner); Muhammed Sabo Lamido (executive commissioner); Mrs. Patience Oyekunle (permanent secretary, Ministry of Petroleum Resources); Engineer Mustapha Lamorde (Executive Director, HSEC, NMDPRA) and Mr. Dalhat Muhammad Kamal (Director, Ministry of Finance) while Ms. Olayemi Adeboyejo serves as Commission Secretary/Legal Adviser.