adminThe Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission, Engr Gbenga Komolafe has sought an enhanced collaboration with the Nigerian Police in its efforts towards curbing the illicit activities that have plagued the nation’s oil and gas industry.
He advocated urgent need for a united front against the escalating challenges posed by menace when he visited the Inspector General of the Nigerian Police Force, kayode Egbetokun in his office at the Force Headquarters Abuja, on Thursday.
Mrs Victoria Okefe,the Manager, Corporate Communications,quoted Komolafe as conveying this in a statement on Friday.
The NUPRC boss underscored the importance of joint efforts to safeguarding Nigeria’s commonwealth.
After briefing the Inspector General on the efforts made so far by the Commission, in collaboration with other security agencies and relevant agencies of government, the CCE said that arresting the menace requires a joint approach and strategic coordination which is why he is seeking partnership with the Nigerian Police to leverage its expertise in law enforcement, particularly in apprehending and prosecuting perpetrators,the statement said.
The Inspector General acknowledged the severe impact of oil theft on both the financial landscape and the reputation of the country and agreed on the need for urgent action to deal with the situation for the sake of the growth and stability of the country’s national.
In a related development, the CCE has reiterated the need for teamwork and partnership amongst various agencies under the Ministry of Petroleum Resources, to sustain the growth of the Nigerian oil and gas industry.
He hinted that collaboration would create an enabling environment that would attract investments and new projects into the sector, helping to create employment opportunities for youths and address insecurity in the polity.
While noting that Local Content development would be stunted if projects and investments in the oil and gas sector do not flourish, the Executive Secretary suggested that NCDMB and NUPRC should organize workshops to examine and resolve concerns identified by investors as obstacles to investments and new projects.
He hinted that investment decisions by international oil and gas companies are often affected by their assessment of their Return on Investments (ROI).
The Executive Secretary,who also visited the Commissioner for Insurance of the National Insurance Commission (NAICOM),Mr. Sunday Olorundare Thomas,conveyed the willingness of the NCDMB to deepen its partnership with key agencies of the Federal Government to achieve the economic aspirations of President Bola Tinubu administration’s Renewed Hope Agenda, adding that cooperation and teamwork were key to accomplishing any noble objective.
He promised that NCDMB would work closely with NAICOM to review and operationalize the insurance services regulations jointly issued by both agencies in June 2022, to get Nigerian oil and gas companies to patronize local insurance firms and retain spend in the economy.
The Commissioner for Insurance of the National Insurance Commission (NAICOM), congratulated the Executive Secretary on his appointment, noting that he would be building on the solid foundation laid by his predecessors.
He described NCDMB as a formidable institution and commended the founding fathers of the Board for their foresight in creating such an important agency.
He also lauded the former Executive Secretaries of the
NCDMB for their innovative projects and achievements while in office that added value to the economy.
He expressed concern that the insurance services regulations that were signed by the commission and NCDMB were yet to be implemented.
He requested the Executive Secretary to address the challenges, hinting that implementing the regulations would bring the needed changes in the insurance subsector of the oil and gas industry before being extended to other key sectors of the economy.
