NUPRC and Komolafe praised for successful PIA implementation

• The Nigeria Oil and Gas Integrity Forum commended NUPRC and Engr. Gbenga Komolafe for their pivotal relation successful the palmy implementation of the Petroleum Industry Act (PIA)
• NUPRC’s transparent enactment has restored capitalist assurance successful Nigeria’s upstream sector, fostering maturation done clearer regulations and competitory fiscal terms
• The forum besides praised the Commission's efforts to beforehand Nigerian content, empower indigenous companies, and leverage exertion to trim corruption successful the lipid sector

The Nigeria Oil and Gas Integrity Forum has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its important relation successful the palmy implementation of the Petroleum Industry Act (PIA), a betterment present seen arsenic a cornerstone of Nigeria's lipid and state future.

The forum commended the enactment of Engr. Gbenga Komolafe, who heads the commission, for navigating the complexities of the PIA and transforming it into a operator of maturation and transparency successful the sector.

Komolafe has been applauded for his important relation successful implementing PIA reforms. Photo credit: FB/NUPRC
Source: Facebook

Komolafe hailed for bully leadership

Vivian Okorafor, President of the forum, issued a connection connected Saturday, acknowledging the important interaction of the PIA connected the nation's lipid and state landscape.

She pointed retired that portion the transition of the PIA was a large milestone, the existent occurrence lies successful the effectual enforcement of the law, made imaginable by NUPRC's leadership.

"Without the coagulated and transparent enforcement of the instrumentality by NUPRC, we would inactive beryllium grappling with regulatory uncertainties, superior flight, and capitalist distrust," Okorafor stated.

The forum lauded Komolafe for creating a regulatory situation that has go an enabler for maturation alternatively than an obstacle.

Key indicators of concern successful Nigeria's upstream assemblage person shifted positively since NUPRC took complaint of PIA enforcement, signaling renewed assurance among some section and planetary investors.

"Transparent bid rounds, wide licensing processes, and streamlined procedures person restored religion successful Nigeria’s petroleum sector," Okorafor added.

NUPRC's efforts to beforehand Nigerian contented and empower indigenous companies were besides highlighted.

Digitalisation of operations commended

The forum recognized the important summation successful the information of Nigerian companies successful upstream operations, which has been facilitated by policies prioritizing transparency, merit, and section expertise.

Technology's relation successful transforming the regulatory situation was different constituent of praise. Okorafor noted that the NUPRC had introduced integer platforms that simplified regulatory compliance, enhanced efficiency, and reduced corruption.

“Licensing, reporting, and monitoring are present mostly digital, making it hard for underhand dealings to thrive,” she explained.

Okorafor further discussed the interaction of the PIA’s caller fiscal regime, which has made Nigeria a much competitory destination for upstream investments.

"Before the PIA and the caller fiscal frameworks enforced by NUPRC, Nigeria was losing retired to different African nations similar Angola and Ghana," she explained."Today, our fiscal presumption are competitory again, and the regulatory situation is overmuch much investment-friendly."

The forum called connected President Bola Tinubu to proceed supporting autarkic regulatory bodies similar the NUPRC, urging stakeholders to collaborate with the Commission to prolong the advancement achieved.

"We impulse Mr. President to shield institutions similar the NUPRC from governmental interference," Okorafor concluded."Komolafe and his squad person shown what tin hap erstwhile professionalism leads."

While challenges persist successful Nigeria's lipid and state sector, the forum believes that nether NUPRC's leadership, the state is connected the way to a much transparent and prosperous future.

Pro-Tinubu radical praises NUPRC’s success

In a akin development, the Renewed Hope Ambassadors Network (RHAN), a radical aligned with President Bola Tinubu, has commended the leadership of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its Chief Executive, Engr. Gbenga Komolafe, for their dedication to implementing reforms successful the lipid and state sector.

In an appraisal study released by the group, RHAN praised the strides made by the NUPRC successful enforcing the provisions of the Petroleum Industry Act (PIA).

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Source: Legit.ng