The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has expressed its readiness to collaborate with PricewaterhouseCoopers (PwC) in its quest to develope a 21st century Upstream regulator for the Nigerian oil and gas industry.
The Commission Chief Executive, Gbenga Komolafe, stated this when the management team of PwC visited him in his office in Abuja.
He said that the Commission is an autonomous regulatory body created with the signing of the Petroleum industry Act (PIA) 2021 by President Muhammadu Buhari GCFR, and that the proposed collaboration with PwC is geared towards creating a new organisational culture that will evolve into a 21st century regulator.
He reiterated that the objective of the alignment with PwC is to develop a template that will drive efficiency and reduce arbitrariness by creating standard operating procedures and regulations that will propel the PIA in line with global best practices.
He emphasized that this will crystallize the Commission into a transparent, fair and cost effective regulator and buisness enabler for the Upstream sector of the Nigerian oil and gas industry.
The CCE stated that NUPRC will leverage the relationship with PwC to create a robust partnership investment that will drive the realisation of PIA mandate in line with the aspirations of government.
The team lead of PwC, Mr Jide Adeola, in his response pledged their support and readiness to collaborate with NUPRC to achieve its vision of a 21st century Upstream regulator.
He said that PwC was a global brand with a chequered history of successful partnerships around the world and the same template will be deployed in the collaboration with NUPRC.