NUPRC calls for completion of headquarters to attract investors, boost image

The Chairman, NUPRC Board, Senator Magnus Abe, speaking during the inspection of the proposed head office. Photo: NUPRC

In order to attract investors into the upstream oil and gas sector, the
Nigerian Upstream Petroleum Regulatory Commission, NUPRC has called for speedy completion of its headquarters edifice that has been under construction.

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The Commission the completion of its headquarters, called ‘The Barrel’ will attract foreign and local investors, strengthen the work efficiency and boost Nigeria’s image to investors.

In a statement on Thursday by the Head, Media and Corporate Communications of the agency, Eniola Akinkuotu, which was obtained by CAPITA POST in Abuja, said the 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.

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Strategically located on the high brow area of the Central Business District, Abuja, the project was initiated in 2020 but remains incomplete, forcing the NUPRC to operate its departments from different locations across the FCT.

The statement quoted the Chairman of NUPRC Board, Senator Magnus Abe to have called for the completion of the headquarters while inspecting the site on Thursday, noting that the staggered operational pattern of the Commission projected a negative situation to Nigeria.

He said operation of the NUPRC cannot continue on the present arrangements as the Commission is the first point of call to major oil and gas companies seeking to invest billions of dollars in the country.

Abe said, it would be embarrassing to the country that investors come around with billions of dollars only to meet staff in a block of flat,.after which they have to drive to another location within the federal Capital Territory FCT to complete the transaction, lamented that it did not speak of the good image of the oil regulatory agency.

Abe said the completion of the agency will centralise operations 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.

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