By Omoniyi David
Nigeria’s oil and gas industry may see improved efficiency as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Nigerian National Petroleum Company (NNPC), forge a strategic alliance to reduce operating costs, streamline regulation, and boost investor confidence.
The move follows a high-level meeting at NUPRC headquarters in Abuja, signaling a shift from parallel operations to closer collaboration.
Experts say the alliance could eliminate long-standing bottlenecks that have slowed growth in the upstream sector.
NUPRC Chief Executive Mrs. Oritsemeyiwa Eyesan said both institutions share a mandate under the Petroleum Industry Act (PIA), and must coordinate to improve efficiency.
“As major instruments of government in the industry, we are aligned toward the same goal,” she said.
Immediate steps include working with the Oil Producers Trade Section (OPTS), to harmonise multiple fees and levies, easing financial and regulatory burdens to attract more investment.
