Key points
- NUPRC says completing its proposed headquarters, ‘The Barrel’, will improve its operational efficiency and strengthen Nigeria’s investment appeal.
- The 10-storey facility in Abuja, initiated in 2020, is expected to accommodate between 900 and 1,000 people.
- The Commission has directed the contractor to fast-track construction and deliver the project by the first quarter of 2027.
Main story
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the speedy completion of its proposed headquarters, ‘The Barrel’, will improve its efficiency and strengthen Nigeria’s appeal to investors in the oil and gas sector.
Sen. Magnus Abe, Chairman of the NUPRC Board, said this during an inspection of the proposed headquarters in Abuja, stressing that the completion of the facility would provide a central location for the Commission’s operations and engagements with industry stakeholders.
The 10-storey building, located in Abuja’s Central Business District, is designed to accommodate between 900 and 1,000 people. Initiated in 2020, the project remains incomplete, forcing the Commission to operate from smaller offices in different locations across the Federal Capital Territory.
Abe said the fragmented arrangement could undermine the image of the regulator when major oil and gas companies visit Nigeria to discuss large-scale investments, making completion of the permanent headquarters important to both the Commission’s operations and the country’s investment drive.
“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.” — Sen. Magnus Abe, Chairman, NUPRC Board
He said the proposed headquarters would allow industry operators to engage with the Commission from one location, while also providing a facility that reflects the importance of Nigeria’s petroleum industry.
“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence.” — Sen. Magnus Abe, Chairman, NUPRC Board
Abe also commended President Bola Tinubu for providing what he described as strong support, policy clarity and a clear vision for the oil and gas industry.
He said the impact of the administration’s policies was already evident in increased investment in Nigeria’s upstream petroleum sector, adding that the investments were creating employment and business opportunities while supporting development in host communities and increasing government revenue.
The proposed headquarters is expected to consolidate the Commission’s operations in one location and provide a central point for its engagements with oil and gas companies and other industry stakeholders.
The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, consequently urged the contractor to accelerate construction and deliver the project by the first quarter of 2027.
The Managing Director of Julius Berger Nigeria Plc, Mr Peer Lubasch, pledged that the company would make efforts to meet the completion timeline.
The issues
The project has remained incomplete since it was initiated in 2020, leaving the NUPRC to operate from different locations in Abuja. The Commission considers the completion of the headquarters important for consolidating its operations and improving how it engages with investors and industry operators.
What’s being said
“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.” — Sen. Magnus Abe, Chairman, NUPRC Board
“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence.” — Sen. Magnus Abe, Chairman, NUPRC Board
What’s next
The contractor is expected to accelerate work on the headquarters with a target of delivering the project by the first quarter of 2027.
Bottom line
The NUPRC says completing ‘The Barrel’ headquarters will centralise its operations, improve engagement with oil and gas investors and strengthen the image of Nigeria’s upstream petroleum regulator.
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