The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the speedy completion of its proposed headquarters, ‘The Barrel’, will boost the Commission’s efficiency and the country’s investment appeal.
The Chairman, NUPRC Board, Sen. Magnus Abe made this known during an inspection of the proposed head office in Abuja.
The Barrel, a 10-storey building with the capacity to accommodate 900 to 1,000 people is being constructed in the likeness of a convex, curved cylinder that bulges outward at its center.
The facility, located at the Central Business District, Abuja, was initiated in 2020 but had yet to be completed, forcing the NUPRC to resort to smaller offices in different locations in the FCT.
Abe, in a statement said the proposed permanent site would provide a central location for its operations and engagements with industry players, while serving as a symbol of national pride and confidence in Nigeria’s oil and gas sector.
“The current arrangement whereby major oil and gas companies seeking to discuss multibillion-dollar investments had to move between different NUPRC locations across Abuja to transact business with the regulator, projected an image that is detrimental to Nigeria’s investment drive.
“It is an embarrassment to this country when oil and gas companies come to Nigeria to discuss multibillion-dollar investments, only to meet the regulator in a block of flats and from there proceed to other parts of the city to see different departments for transactions with the NUPRC.
“This image is not just bad for the country, but bad for business.
“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence,” he said.
Abe commended President Bola Tinubu for giving members of the board the opportunity to serve the country and for providing what he described as strong support, policy clarity and a clear vision for the oil and gas industry.
According to him, the impact of the administration’s policies are already evident in the resurgence of investment in Nigeria’s upstream petroleum sector.
The Chairman said the investments were already creating employment and business opportunities while driving development in host communities and increasing revenues for the country.
Also speaking, the Commission Chief Executive, NUPRC, Mrs Oritsemeyiwa Eyesan, asked the contractor to fast-track the construction and deliver the project by the first quarter of 2027.
The Managing Director, Julius Berger Nigeria Plc, Mr Peer Lubasch, promised to make efforts to meet the timeline.
