NUPRC moves to curtail oil theft, enacts policy framework
By Patience Ikpeme
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has introduced a new policy framework called the Nigerian Upstream Petroleum Measurement Regulations, 2023. This framework aims to improve monitoring, transparency, and accountability of crude oil extraction in Nigeria. It aligns with the Petroleum Industry Act (2021) and is expected to revolutionize oil-related revenue generation in the country.
During a recent National Anti-Corruption Conference in Abuja, Chief Commission Officer Gbenga Komolafe emphasized that this policy is the first of its kind since oil was discovered in Nigeria in 1956. It will address issues such as overloading and illegal oil dispensing, which contribute to illicit financial activities.
Komolafe stated that while recovering illicit financial flows is important, preventing them is even more crucial. The NUPRC is committed to proactive corruption prevention and promoting transparency in the oil and gas industry. By stopping illicit financial flows at the source, the work of anti-corruption agencies such as the EFCC and ICPC will be facilitated.
The regulations include requirements for licensees and lessees to have an approved metering plan for petroleum production measurement. The equipment and systems used must comply with standards set by the Commission. Installation of metering equipment and services should be carried out by licensed providers approved by the Commission.
Komolafe emphasized that this development will put an end to the practice of operators manipulating crude oil figures with NUPRC staff.
