From Victor Edozie, in Port Harcourt
The Chairman of the Nigerian Upstream Regulatory Commission (NUPRC), Senator Magnus Ngei Abe, has appealed to President Bola Ahmed Tinubu to bring out every single barrel of oil and monetize it while the demand remains high in the international market.
He said this is in view of the fact that Tinubu understands the urgency of maximizing national opportunities when they yield the highest return.
In a Press Statement issued in Port Harcourt on Wednesday by his Spokesman , Parry Saroh Benson , Senator Abe stated that the board was fully committed to its mandate and would execute its roles in a progressive manner that adds visible value, strategically supporting and empowering the commission to meet the high expectations of the Nigerian people.
Abe said, “we are fortunate to have a leader in President Bola Ahmed Tinubu, who deeply understands the urgency of maximizing national opportunities when they yield the highest return.
“A great deal has already been articulated, and I will not weary you by repeating what my predecessors have established. I entirely align myself with the insights shared by previous speakers.
“However, it is imperative that the Board of the NUPRC, as an institution, seizes the opportunity of this gathering to send a clear message to Mr President and the nation that we are fully committed to our mandate.
“We will execute our roles in a progressive manner that adds visible value, strategically supporting and empowering the Commission to meet the high expectations of the Nigerian people.
“The strategic importance of timing, as it is often said, is that the future belongs to those who understand time. You may possess every resource and advantage in the world, but if you do not understand timing, those advantages can be squandered, never to be regained.
“Timing is everything. Doing the right thing is important, but doing the right thing at the right time is the ultimate key to success. Anyone with a fundamental grasp of global geopolitics understands that energy drives the world.
“The security and prosperity of every nation are inextricably tied to its capacity to provide secure, affordable, and sustainable energy within its borders. In today’s landscape, oil meets much of that criteria.
“However, for some of the world’s largest consumers, relying on imported oil is neither secure nor sustainable. For nations like China, India, Germany, Japan, and a host of others who lack domestic primary oil production, energy dependence represents a significant vulnerability.
“Consequently, their transition to renewables and alternative energy sources—which they can produce and control domestically—is an existential security necessity, not just an environmental one”.
He went further to say that “navigating the energy transition – global markets are not merely shifting away from fossil fuels due to global warming; they are racing toward energy independence.”
Senator Abe expressed his sincere gratitude to all who took out the time from their demanding busy schedules to attend the strategic retreat.
He added that as the apex regulatory body, the NUPRC sits at the very heart of these energy sector reforms, maintaining that the success of ‘our regulatory framework forms the bedrock of Nigeria’s broader economic growth.
“We owe a debt of gratitude to the visionary leadership driving this reform, led by Mr President, our Ministers of State for Petroleum Resources, the Special Adviser on Energy, the leadership at the NNPC, and our own Commission Chief Executive (CCE). The impact of these changes is already generating increased production, greater regulatory clarity, and renewed investor confidence across the industry.”
