The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN, has reaffirmed the Commission’s readiness to support efforts aimed at building a transparent, accountable and compliant regulatory system in Nigeria’s petroleum sector.
Dr. Aliyu gave the assurance on Friday at the ICPC Headquarters in Abuja when he received the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, and members of her management team on a courtesy visit.
The ICPC Chairman stressed the strategic importance of the NUPRC to the Nigerian economy, noting that challenges affecting the effectiveness of the petroleum industry regulator could have far-reaching consequences for the country’s economic wellbeing. He therefore underscored the need for both commissions to strengthen collaboration in promoting integrity and transparency in the sector.
“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,” he said, adding that corruption tends to thrive where systems and institutional safeguards are weak.
Dr Aliyu commended the NUPRC for its strong performance in the ICPC’s Ethics and Integrity Compliance Scorecard (EICS), describing the achievement as an indication of the Commission’s commitment to promoting ethical standards and institutional integrity.
He further identified information sharing and mutual trust as critical to effective anti-corruption enforcement, noting that the ICPC would benefit from the NUPRC’s technical expertise in investigations involving the petroleum sector. He also called for closer collaboration in procurement processes and efforts aimed at blocking wastages and leakages.
Earlier, the NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, highlighted the critical role of the upstream petroleum sector as a major source of revenue for Nigeria, noting that the capital-intensive nature of the industry requires effective regulation, strong governance and a conducive environment for investment.
She described the Petroleum Industry Act (PIA) as a game changer designed to restructure the regulatory environment and improve investor confidence, particularly against the backdrop of a significant decline in investments in the sector over the years. She added that the NUPRC was working to unlock Nigeria’s gas resources while strengthening governance across upstream operations.
Mrs. Eyesan disclosed that the NUPRC was reviewing the qualification criteria for its regular bidding exercises following challenges associated with some indigenous operators who lacked the financial and technical capacity to develop awarded assets, as well as disputes that had stalled the development of some assets.
She further disclosed that the NUPRC would hold an onboarding programme for successful awardees in October and expressed the Upstream Regulator’s intention to involve the ICPC in the exercise to sensitise operators on good governance, integrity and regulatory compliance.
She expressed gratitude to the ICPC for its support and assured that the NUPRC would continue to collaborate and share relevant concerns with the ICPC towards improving its operations.