We Are Addressing Corruption In Oil, Gas Sector

Reportgist
3 Min Read
- Advertisement -

....CONTINUE READING THE ARTICLE FROM THE SOURCE

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has said the commission has been making efforts to address corruption in the oil and gas sector.

Gbenga Komolafe said fighting corruption in the country and across all sectors was a necessity for the growth of the country.

He stated this, on Monday while celebrating the 2024 International Anti-corruption Day in Abuja.

Speaking on the theme, ‘United against Corruption: Building Integrity for a Sustainable Future’, the NUPRC chief executive stressed that corruption is not an abstract issue, but a clear and present danger to the nation’s growth and prosperity.

READ:  SAD NEWS: WORLD Acclaimed Music Superstar, Celine Dion In Severe Pains (WATCH VIDEO Plus DETAILS)

In the oil and gas sector, where the stakes are high and revenues substantial, corruption can have devastating effects on national development, community welfare, and environmental sustainability.

“Nigeria’s upstream petroleum sector is a cornerstone of our economy. As custodians of this critical industry, we at the NUPRC recognize that corruption in any form undermines the sector’s integrity and diminishes the resources available for national progress.

“The NUPRC stands at the forefront of the nation’s efforts to ensure that our hydrocarbon resources are managed with transparency, accountability, and efficiency,” he stated.

Komolafe highlighted that NUPRC under his administration has implemented so many measures to address corruption and restore investors’ confidence.

READ:  Just In: The Man Who Cannot Die, He Returned to Life Six Times After His Body Was Burned (Video)

This included the implementation of the Oil and Gas Industry Service Permit (OGISP) portal, to reduce human interaction in NUPRC’s permit processes and consequently the incidence of bribery and inefficiencies; the award of petroleum licenses and leases have also been done through an open competitive bid process; the launch of HostComply platform to enhance the administration of the Host Communities Development Trusts (HCDTs); and the establishment of Anti-Corruption and Transparency Unit (ACTU) with its separate and dedicated budgetary line for its effective operation.

Some of the key activities of the NUPRC ACTU include: Creating awareness within NUPRC’s staff of NUPRC’s zero-tolerance for corruption by educating members of the ACTU and staff of the NUPRC through training, publications and banners;

“System study and reviews of NUPRC’s major regulatory activities such as the recently concluded Nigerian Gas Flare Commercialisation Programme (NGFCP) and encouraging whistleblowing among the commission’s staff and stakeholders by establishing whistleblowing channels such as complaint boxes and secure email.

“These efforts are already yielding results, as we see greater investor confidence and improved revenue inflows to the Federation Account. However, this battle is not one the NUPRC can fight and win alone. It requires the active participation of all stakeholders,” he stated.

READ:  BREAKING: Nigeria Proposes Gold Standard to Control Inflation with $34.8B Reserves

- Advertisement -
Share This Article
error: Content is protected !!