By Julius Peter, Abuja
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have pledged to strengthen collaboration towards promoting transparency, accountability, integrity and regulatory compliance in Nigeria’s upstream petroleum sector.
The commitment was made on Friday in Abuja when the NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, led members of her management team on a courtesy visit to the headquarters of the ICPC, where they were received by the Chairman of the anti-corruption commission, Dr. Musa Adamu Aliyu, SAN.
Speaking during the meeting, Aliyu reaffirmed the ICPC’s readiness to support initiatives aimed at strengthening transparency and accountability within the petroleum industry, stressing that the effectiveness of the upstream regulator was strategically important to Nigeria’s economic wellbeing.
The ICPC chairman noted that the petroleum sector remains critical to the Nigerian economy and warned that weaknesses in the systems and institutional safeguards governing the industry could create opportunities for corruption, leakages and other forms of abuse.
“Integrity in your sector is very important. We need investors, and if we are not transparent, it will be difficult for NUPRC to operate optimally,” Aliyu said.
He stressed the need for the two institutions to deepen their partnership in order to strengthen institutional integrity and ensure that regulatory processes in the upstream sector remain transparent and accountable.
According to him, effective anti-corruption enforcement requires strong cooperation among relevant institutions, particularly through information sharing, mutual trust and access to technical expertise.
Aliyu said the ICPC would benefit from the technical knowledge and sector-specific expertise of the NUPRC in the course of investigating cases involving the petroleum industry.
He also called for greater collaboration between the two institutions in procurement processes, particularly in identifying and blocking avenues for wastage, leakages and financial misconduct.
The ICPC chairman commended the NUPRC for its strong performance in the Commission’s Ethics and Integrity Compliance Scorecard (EICS), describing the achievement as evidence of the regulator’s commitment to ethical standards and institutional integrity.
He encouraged the NUPRC to sustain its efforts towards building systems that promote accountability, compliance and responsible management of public resources.
Earlier, Eyesan highlighted the strategic importance of Nigeria’s upstream petroleum sector, describing it as a major source of revenue for the country.
She noted that the capital-intensive nature of the petroleum industry makes effective regulation, sound governance and a conducive investment environment essential to attracting and retaining investors.
The NUPRC chief executive described the Petroleum Industry Act (PIA) as a major reform that has helped to restructure the regulatory environment and improve investor confidence in the industry.
According to her, the legislation is particularly important against the backdrop of the significant decline in investments in Nigeria’s petroleum sector over the years.
Eyesan said the NUPRC was committed to implementing measures aimed at unlocking Nigeria’s enormous gas resources while simultaneously strengthening governance and accountability across upstream operations.
She explained that the regulator was also reviewing the qualification criteria for its regular bidding exercises following challenges associated with some indigenous operators who lacked the financial and technical capacity required to develop assets awarded to them.
She added that disputes involving some assets had also contributed to delays in their development, making it necessary for the regulator to strengthen the process of assessing prospective investors and awardees.
Eyesan disclosed that the NUPRC would organise an onboarding programme for successful awardees in October as part of efforts to ensure that new operators understand their obligations and operate in line with regulatory requirements.
She expressed the regulator’s intention to involve the ICPC in the onboarding exercise to sensitise successful operators on good governance, integrity, transparency and regulatory compliance.
According to her, early engagement with operators on ethical standards and compliance would help to establish a culture of accountability and reduce the risk of corrupt practices in the management and development of petroleum assets.
Eyesan expressed appreciation to the ICPC for its continued support and assured the commission that the NUPRC would maintain regular engagement and share relevant concerns with the anti-corruption agency towards improving its operations.
The collaboration between the ICPC and NUPRC is expected to strengthen institutional safeguards within the upstream petroleum sector, enhance investor confidence and promote more efficient management of Nigeria’s petroleum resources.
It is also expected to provide a stronger framework for addressing corruption risks, improving regulatory compliance and ensuring that petroleum-sector investments translate into greater economic benefits for the country.
Both institutions reaffirmed the importance of sustained inter-agency cooperation in strengthening governance and accountability as Nigeria seeks to attract fresh investments, expand oil and gas production and maximise the economic potential of its upstream petroleum resources.
